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Gold (GC=F) December futures opened at $4,498.70 per troy ounce on Tuesday, September 1, 2026, up 0.4% from Monday's closing price. The price of gold is down this morning at $4,432.20 per troy ounce as of 7:56 a.m. ET.
Stubborn inflation, continually propelled by the ongoing conflict in Iran, is keeping a lid on gold prices. Recent comments from Fed Chair Kevin Warsh that the Fed has "work to do" on price control, plus renewed attacks in the Middle East, are raising rate-hike expectations ahead of the Fed's meeting later this month.
According to the CME Group's FedWatch tool, there's currently a 66.4% chance the Fed raises rates by 25 basis points later this month, and a 33.6% expectation they will leave rates unchanged. Just one week ago, the script was flipped, as economists estimated a 60.4% chance the Fed would leave rates unchanged and a 39.6% chance rates would rise.
Higher interest rates are a natural headwind for gold prices since the precious metal doesn't pay interest.
#rates #leave
Gold (GC=F) December futures opened at $4,498.70 per troy ounce on Tuesday, September 1, 2026, up 0.4% from Monday's closing price. The price of gold is down this morning at $4,432.20 per troy ounce as of 7:56 a.m. ET.
Stubborn inflation, continually propelled by the ongoing conflict in Iran, is keeping a lid on gold prices. Recent comments from Fed Chair Kevin Warsh that the Fed has "work to do" on price control, plus renewed attacks in the Middle East, are raising rate-hike expectations ahead of the Fed's meeting later this month.
According to the CME Group's FedWatch tool, there's currently a 66.4% chance the Fed raises rates by 25 basis points later this month, and a 33.6% expectation they will leave rates unchanged. Just one week ago, the script was flipped, as economists estimated a 60.4% chance the Fed would leave rates unchanged and a 39.6% chance rates would rise.
Higher interest rates are a natural headwind for gold prices since the precious metal doesn't pay interest.
#rates #leave
2 months ago
