Gold futures attempt rally but fade at 200-day moving average
December gold futures tried to rise but pulled back at the 200-day moving average, holding above the 50-day. Prices ranged $4,537.80 to $4,506.60 and hover near unchanged for the week.
December Gold futures attempted a rally before pulling back at the 200-day moving average, remaining trapped above the 50-day moving average.
Prices saw a daily high of $4,537.80, with a low of $4,506.60, as gold hovers near unchanged for the week.
Market expectations for a September rate hike currently sit at 52% according to the CME FedWatch Tool, an increase from 49% the prior day, but down from the 63% peak seen following the Jackson Hole symposium.
Looking ahead, market participants await upcoming CPI data as a critical indicator before the upcoming Federal Reserve policy meeting on Sept.
15 and 16.