Gold Rallies to Early-June High as Fed Hike Bets Fade
Gold has climbed to its strongest level since early June as markets reduce expectations for additional Federal Reserve rate increases, according to Commerzbank.
XAUUSD
Gold has rallied to its highest level since early June, according to Commerzbank’s Carsten Fritsch. The advance comes as markets scale back expectations for further Federal Reserve rate hikes.
The report points to fading Fed tightening bets as the key driver behind the move in bullion.
The shift in rate expectations has supported gold’s upside momentum.
Source: FXStreet Forex News