12-Aug-2026      15:35

Gold reclaims $4,500-mark on Fed rate unceratinty

Gold prices moved closer to $4,500 an ounce in Asian electronic trading on Wednesday, recovering losses from the previous session as investors prepared for important US inflation data. This data could influence the Federal Reserve's rate decision in September, with high oil prices adding a cautious outlook. Additionally, gold is supported by strong central-bank purchases, including 640,000 troy ounces bought by the People’s Bank of China in July, marking the largest increase since 2023 and continuing a 21-month buying trend.

News source: Capital Market - Live News