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Gold near $4135 an ounce
News reports indicate that gold prices have fallen to around $4,135 per ounce after losing 3.4% last week. Meanwhile, expectations for a US interest rate hike have decreased from 70% to approximately 20% until October. Despite rising oil prices due to escalating conflicts in the Middle East, Federal Reserve officials have signaled that a rate increase is not imminent, with the September meeting minutes soon to be released to clarify the upcoming monetary policy path. Additionally, the market is influenced by US employment data showing the addition of 29,000 jobs in September, which helps ease inflationary pressures and reduces the need for higher borrowing costs.
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