UNITED ARAB EMIRATES / RankWire.AI / – Gold prices held above $4,400 an ounce on Thursday after reversing an earlier decline in the previous session. Spot gold rose 0.3% to $4,414.28 an ounce by 0419 GMT. U.S. gold futures for December delivery slipped 0.1% to $4,457.20. The dollar remained subdued during Asian trading, giving support to bullion priced in the U.S. currency. Gold entered Thursday near the stronger levels reached late Wednesday after recovering from losses recorded earlier that day.
Precious metals markets track U.S. inflation readings as gold trades near $4,400 an ounce.
The benchmark U.S. 10-year Treasury yield remained elevated near 4.84%, keeping interest rates in focus across financial markets. Gold pays no interest, so changes in bond yields can influence demand for the precious metal. Brent crude also remained above $100 a barrel after crossing that level during Wednesday’s session. Higher oil prices kept inflation indicators under close attention as traders prepared for new U.S. economic data. The combination of currency moves, bond yields and inflation readings remained central to gold trading.
The United States will release producer price index data at 1230 GMT on Thursday, followed by consumer inflation figures on Friday. Both reports will provide updated readings on price pressures before the Federal Reserve meets on September 15 and 16. The central bank’s current federal funds target range stands at 3.50% to 3.75%. CME Group’s FedWatch Tool showed markets assigning about a 60% probability to a rate increase this month. The scheduled data releases remained the main economic events facing precious metals markets.
Gold rebounds sharply from Wednesday’s early decline
Gold’s Thursday level followed a wide trading range during the previous session. Spot gold had fallen 0.1% to $4,349.44 an ounce at 0040 GMT on Wednesday. By 1744 GMT, the metal had climbed 1.4% to $4,414.30. December U.S. gold futures also recovered and settled 0.5% higher at $4,458.80. The advance ended a three-day losing streak for bullion and brought spot prices back above the $4,400 mark before Thursday’s Asian session began.
The latest price action also showed a clear difference between Wednesday’s early and later readings. Thursday’s spot price stood about 1.5% above the $4,349.44 level recorded early Wednesday. December futures remained well above their earlier Wednesday reading of $4,393.30. The Federal Reserve’s approaching policy meeting kept interest-rate expectations prominent alongside inflation data. Gold remained sensitive to the dollar and Treasury yields as investors assessed the latest economic signals without a major change in the broader market backdrop.
Silver, platinum and palladium show mixed moves
Other precious metals traded unevenly on Thursday after posting stronger gains during the previous session. Spot silver added 0.3% to $67.50 an ounce, while platinum fell 0.4% to $1,888.05. Palladium gained 0.2% to $1,356.20. On Wednesday, silver had risen 3.3% to $67.91, while platinum advanced 5.1% to $1,906.20. Palladium gained 1.2% to $1,365.50 during the same session, extending the broader recovery across the precious metals complex.
Gold remained above $4,400 in early Thursday trading, while silver stayed above $67 an ounce. The dollar, Treasury yields and U.S. inflation data continued to provide the main reference points for the market. Producer inflation figures are due Thursday, with consumer inflation data scheduled for Friday. Those releases come before the September 15 and 16 policy meeting. For gold, the latest trading levels preserved most of Wednesday’s rebound and kept prices close to the previous session’s late gains.