Gold steadied near $4,155 an ounce after a 1.6% rise, as a stock selloff drove investors into bonds and pushed Treasury yields down 12‑15 basis points. Concerns over AI investment spending and high borrowing costs have pressured the metal, which has lost a fifth of its value since the US‑Iran conflict began in late February. Hotter U.S. inflation data and upcoming Fed Chair Kevin Warsh remarks keep rate‑hike bets elevated, while spot gold slipped 0.4% to $4,154.03 and silver fell 0.4% to $57.13. Platinum and palladium also declined, and the Bloomberg Dollar Spot Index was flat after earlier losses.
The conflict continues to disrupt energy markets and fuel inflation, prompting central banks to tighten monetary policy. In the U.S., the release of a hotter-than-expected September inflation print on Wednesday, followed by producer prices and retail sales on Thursday, have raised bets for a rate‑hike in October. Investors are set to parse Federal Reserve Chairman Kevin Warsh’s remarks at an International Monetary Fund meeting in Bangkok at 10.30 a.m. local time. Spot gold was down 0.4% at $4,154.03 at 8:47 a.m., while silver fell 0.4% to $57.13. Platinum and palladium declined. The Bloomberg Dollar Spot Index was flat, after falling by 0.3% in the earlier session.
Kevin Warsh, 12‑15 basis points, $4,155, $4,154.03, $57.13
Source: Bloomberg Markets · Summarized by HeadlinesBriefing