Gold is trading virtually unchanged on Friday, 4 September, following the previous session’s gains, on course to close the week with a modest weekly advance as monetary policy returns to the fore and investors reassess the probability that the US Federal Reserve will proceed with an interest rate increase when it meets in less than two weeks.
In morning trade, the yellow metal edged down 0.13% to $4,467.66 per ounce, having surged more than 2% in Thursday’s session. The move followed a public address by Fed Governor Christopher Waller, who indicated he would not oppose holding interest rates at their current level should inflation show signs of easing.
Waller said his decision would be “strongly influenced” by August inflation data due for release next week, with analysts anticipating that the headline rate will hold steady at the 3.4% recorded in July. “But if inflation comes in higher, I would consider raising rates,” he added, before noting: “Recent data suggest we are finally seeing some signs of a slowdown.”
In response to Waller’s comments, the swaps market revised down its expectations for a rate increase. Probabilities were adjusted to below 70%, with investors now awaiting the release of the US August non-farm payrolls report for further guidance on the trajectory of American monetary policy.
Gold received additional support from growing expectations of Japanese authorities intervening in the yen, which is placing downward pressure on the dollar and contributing to its depreciation. The US currency fell to its lowest level since May on Thursday, making gold purchases more attractive for international investors.
Source: Diário Económico
Original article: https://www.diarioeconomico.co.mz/2026/09/04/mercados/commodities/ouro-corrige-de-ganhos-de-mais-de-2-da-sessao-anterior/
