September Rate Hike Odds

Gold ended the week firmer as fading September hike expectations and a softer dollar kept the rate-relief trade in focus. Technical traders are watching $4,449.83 as the next upside test, while a break below $4,311.04 could reopen a deeper pullback toward the 50-day moving average.

Gold is under pressure during a three-day sell-off as crude oil strength, rising Treasury yields, a firmer dollar and higher Fed hike expectations weigh on sentiment. The $4,072.40 to $4,041.65 retracement zone now stands as the immediate battleground for XAU/USD traders.