Gold Below $4,100 As Fed Tightening Prospects Weigh on Outlook -- Market Talk

0738 GMT - Gold prices are back below $4,100 as higher real yields and rate-hike bets weigh on the non-yielding metal's appeal. In early trading, New York futures are up 0.05% to $4,052.40 a troy ounce, leaving prices on track for a modest weekly gain after a rebound earlier this week. The market's main focus remains on monetary policy, as higher interest rates reduce bullion's appeal. "The benign June price data brought the Fed some more time to gauge how inflation evolves over the coming months," says Thomas Ryan from Capital Economics. "If inflation pressures remain as persistent as we expect, the Fed will begin tightening policy with a 25-basis-point hike in September, a move now fully priced into markets following the rebound in WTI to more than $90 a barrel." (giulia.petroni@wsj.com)

(END) Dow Jones Newswires

July 24, 2026 03:38 ET (07:38 GMT)