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Gold rose on Wednesday (Oct 26), as the US dollar and US Treasury yields fell amid expectations that the Federal Reserve might signal a slowdown in the pace of its interest rate hikes.<br />Spot gold gained 0.7% to US$1,663.26 per ounce by 0644 GMT, while US gold futures rose 0.6% to US$1,667.10.<br />"With the bearish positioning for gold prices, the possibility of a strong near-term rally could be on the table if any indications of a rate slowdown is presented from the Fed," said IG market strategist Yeap Jun Rong.<br />Yields on the 10-year Treasury note fell as weak US data fuelled speculation of a less hawkish Fed, while the dollar index touched its lowest level since Oct 5, lifting gold's appeal for those holding other currencies.<br />Data on Tuesday showed US consumer confidence ebbed in October, home prices fell sharply in August and there were signs that the Fed's aggressive stance was starting to cool the labour market.

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【Gold bounces as US dollar slips on bets Fed may slow rate hikes】Gold rose on Wednesday (Oct 26), as the US dollar and US Treasury yields fell amid expectations that the Federal Reserve might signal a slowdown in the pace of its interest rate hikes.
Spot gold gained 0.7% to US$1,663.26 per ounce by 0644 GMT, while US gold futures rose 0.6% to US$1,667.10.
"With the bearish positioning for gold prices, the possibility of a strong near-term rally could be on the table if any indications of a rate slowdown is presented from the Fed," said IG market strategist Yeap Jun Rong.
Yields on the 10-year Treasury note fell as weak US data fuelled speculation of a less hawkish Fed, while the dollar index touched its lowest level since Oct 5, lifting gold's appeal for those holding other currencies.
Data on Tuesday showed US consumer confidence ebbed in October, home prices fell sharply in August and there were signs that the Fed's aggressive stance was starting to cool the labour market.

Gold bounces as US dollar slips on bets Fed may slow rate hikes

Disclaimer：The content above does not represent HTX's positions.，HTX does not provide any trading recommendations.。

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