Gold price rebounds slightly as markets await Fed minutes; weaker dollar and easing rate hike expectations provide support
智通财经2026/08/19 07:16Show original
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- Gold prices held steady on Wednesday, with spot gold currently up about 0.35%, trading near $4,350 per ounce. The weakening US dollar offered an opportunity for gold prices to rebound. However, overall trading remained cautious as the market is awaiting the release of the Federal Reserve's July meeting minutes to seek further clues on monetary policy outlook.
- Previously, a global sell-off in the bond market drove long-term borrowing costs in major economies close to multi-decade highs. Subsequently, US Treasury yields pulled back from early session highs, dragging the US dollar index down by 0.2%, which provided some support for gold prices.
- Senior market analysts pointed out that cooling expectations of Federal Reserve rate hikes and growing concerns about fiscal budget issues are both positive for gold.
- The Federal Reserve is scheduled to release the July FOMC meeting minutes later in the US trading session. According to CME FedWatch Tool, traders currently expect a 64% probability that the Federal Reserve will keep rates unchanged in September, with a 36% probability of a rate hike.
- On the geopolitical front, Trump stated that the US is currently not negotiating with Iran and insisted that the Strait of Hormuz has resumed normal navigation, contradicting Iran’s statements. Oil prices have risen for four consecutive trading days, limiting gains in gold prices.
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