Gold prices rose slightly during the European session as expectations for a Federal Reserve rate hike eased.
智通财经2026/10/06 08:06(1) Gold prices saw a slight increase during early European trading, as markets focused on U.S. Treasury yields, the dollar’s performance, and fiscal and political turmoil in the eurozone. (2) Analysts at ING noted that with growing fiscal concerns in Europe, investors have sought safe-haven assets, which has driven gold prices modestly higher. (3) The analyst also pointed out that elevated U.S. Treasury yields, continued inflation worries, and a stronger dollar could cap the upside for gold. (4) After the latest U.S. inflation and economic data release, expectations for another Fed rate hike have cooled. (5) The CME "FedWatch" tool indicates traders currently see about a 22% chance of a rate hike in October. (6) Easing rate hike expectations have removed a key headwind for gold. (7) Going forward, attention should be paid to U.S. economic data, the direction of the dollar, and European fiscal conditions to determine whether gold prices can sustain their rebound.
- Gold prices edged up slightly during early European trading, as the market focused on US Treasury yields, the US dollar trend, and fiscal and political turmoil in the eurozone.
- Analysts at ING observed that as European fiscal concerns intensified, investors sought safe-haven assets, which pushed gold prices modestly higher.
- The same analyst also pointed out that elevated US Treasury yields, persistent inflation worries, and a strengthening US dollar could limit the upside for gold prices.
- Following the release of the latest US inflation and economic data, expectations for another Federal Reserve interest rate hike have somewhat cooled.
- The CME "FedWatch" tool shows that traders currently assign about a 22% probability to a rate hike in October.
- The retreat in rate hike expectations has eased a key resistance facing gold.
- Looking ahead, attention should be paid to US economic data, the direction of the US dollar, and European fiscal developments to assess whether gold prices can sustain their rebound.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
British banking sector meets with Chancellor to oppose further tax increases
UK Chancellor of the Exchequer John Healey has informed the country’s largest banks that the government is facing a “difficult fiscal situation”, but did not provide clear guidance on whether the upcoming budget, set to be released later this month, will increase the tax burden on banks. According to informed sources, executives from several major UK banks used a meeting with Healey on Tuesday morning to once again present their arguments against further tax increases on the banking industry. This is likely to be their final meeting with Healey before the budget announcement. Senior executives from Barclays, HSBC, Lloyds Banking Group, NatWest Group, Nationwide, and Santander were among those in attendance. Sources indicated that these bank executives believe increasing the tax burden on the sector would damage the government’s policy goal of boosting economic growth, while further widening the gap between London and competing financial centers such as New York.
Japan plans follow-up measures to reduce dependence on Middle Eastern energy
The CEO of Japan Oil, Gas and Metals National Corporation (JOGMEC) stated that Japan is planning to take follow-up measures to reduce its dependence on energy from the Middle East. Currently, over 90% of Japan's crude oil imports come from the Middle East, making the country's energy supply stability highly susceptible to geopolitical fluctuations. This move is considered in response to the practical need to ensure Japan's energy security.
Wells Fargo raises Meta Platforms target price to $1,000
Wells Fargo raised the target price for Meta Platforms (META.US) from $796 to $1,000.
Wells Fargo lowers Delta Air Lines target price to $100
Wells Fargo has lowered the target price for Delta Air Lines (DAL.US) from $105 to $100.
Crypto prices
More
