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🇲🇦 Morocco /Economy & Trade

Gold steadies as oil rises, dominating global market trading

From Télégraphe · () Arabic

Translated from Arabic and summarized by DistantNews. Read the original for the full story.

At a glance

Newswire Documents & data Context piece
  • Spot gold held at $4,424.40 an ounce, while US gold futures for December delivery slipped 0.1% to $4,471.60.
  • Investors awaited US consumer and producer price data after stronger August job growth kept the possibility of a Federal Reserve rate hike alive.
  • Traders put the chance of a rate increase at about 58%, while Donald Trump said he would halt trade with countries running a US trade surplus unless the Fed cut rates.

Gold prices held steady on Monday as investors waited for US inflation figures due this week. The data could provide fresh clues about the Federal Reserve's approach to interest rates, while rising oil prices also shaped trading in global markets.

The market focus followed data released on Friday showing faster US job growth in August, with unemployment steady at 4.1%. The figures pointed to an improving labor market and kept open the possibility of a rate increase at the Federal Reserve's September 15-16 meeting.

According to CME Group's FedWatch tool, traders estimated the probability of a rate hike at about 58%. Investors were also awaiting US consumer and producer price data. President Donald Trump said he would stop trade with countries where the United States runs a trade deficit unless the Federal Reserve lowers interest rates.

Spot gold stood at $4,424.40 an ounce, while US gold futures for December delivery fell 0.1% to $4,471.60. Investors view gold as a tool for protecting against economic and market uncertainty.

I will stop trading with countries where the United States runs a trade deficit unless the Federal Reserve lowers interest rates.

· Donald TrumpTrump's statement came as investors assessed the outlook for US interest rates and awaited inflation data.
About this summary

Originally published by Télégraphe in Arabic. Translated, summarized, and contextualized automatically by DistantNews, with a note on how the source frames the story. Not individually reviewed before publishing. How this works.

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