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Gold Prices Recover From Two-Month Lows as Dollar Rally Stalls
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News18•08-10-2026, 08:29
Gold Prices Recover From Two-Month Lows as Dollar Rally Stalls
- •Spot gold rose 0.5% to $4,132.66 per ounce after touching its lowest level since August 5 on Wednesday.
- •US gold futures for December delivery increased by 0.4% to $4,157.60.
- •The recent pullback in the dollar boosted demand for bullion by making it cheaper for holders of other currencies.
- •Traders are currently pricing in an 80% likelihood of a US Federal Reserve rate hike by December.
- •Spot silver, platinum, and palladium also posted gains amidst shifting market conditions.
Key Questions Answered
Gold prices edged higher as the dollar eased from an 18-month peak, helping bullion recover from a two-month low while traders weighed the possibility of another US Federal Reserve rate hike.
Traders currently see only an 18% chance of an interest rate hike later this month, but they are pricing in an 80% likelihood of an increase occurring in December according to CME's FedWatch tool.
IMF Managing Director Kristalina Georgieva warned that the global economy is threatened by persistently high energy prices, record public debt, and risks from the AI investment boom.
