Gold holds near $4,500 as Waller hints at holding rates steady, pressuring the dollar and lifting precious metals ahead of U.S. jobs and inflation data.
Gold held near $4,500 on Friday after rallying ~2% Thursday. Fed Governor Waller's signal that he could support holding rates unchanged at the September 15-16 FOMC meeting if August CPI confirms disinflation, plus a softer dollar near 99.4, underpinned bullion. Resistance sits around the 200-day moving average near $4,526.
Dovish Fed signals and a weaker dollar are driving a rebound. Gold rallied nearly 2% Thursday after falling to $4,282, with the 200-day moving average near $4,526 as a key resistance level.
U.S. nonfarm payrolls due Friday and the August CPI report are the next catalysts. Confirmation of easing inflation would reinforce expectations for a September hold and support gold.
Gold steadied near $4,500 after a nearly 2% rally as Fed Governor Waller's comments boosted expectations for a September pause. A softer dollar and easing energy prices underpinned the metal ahead of nonfarm payrolls and August CPI data.