Gold’s August rebound is strengthening as softer inflation, weaker jobs data and easing geopolitical risk cut Fed‑hike odds, but a decisive break above $4,500 remains the key technical test.
The rebound in gold prices is gaining traction.
The yellow metal has surged over 9% in August, but an expert warns the key technical test is yet to arrive.
A benign July inflation report, softer U.S. employment data and signs of progress toward reopening the Strait of Hormuz have all reduced pressure on the Federal Reserve to raise interest rates.
According to the CME FedWatch tool, the odds of a September rate hike have sunk below 40%.
For gold, the distinction matters.
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