Gold rises 2% as rate hike fears ease
Gold prices rose by more than 2%, reaching their highest level since August 28, following a decline in expectations for a U.S. interest rate hike. This came after statements by Federal Reserve Chair Christopher Waller, indicating the possibility of keeping interest rates steady if data continues to show a slowdown in inflation pressures, thereby boosting demand for gold as a safe haven. Additionally, Treasury bond yields and the U.S. dollar declined, further supporting the precious metal as markets await the upcoming U.S. non-farm payrolls report and other economic indicators that will determine the course of monetary policy.
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