Gold at the Edge: The Structural Bid Versus an ~85% Priced Fed Hike
Gold enters the September Federal Reserve decision testing the same floor it has defended all month. December gold futures traded near $4,337 early Tuesday, down about 1.8% over the past month and parked at the low end of a $4,336 to $4,641 monthly range, as a stronger dollar and a 10-year Treasury yield that is back at 5% press every non-yielding asset at once. The meeting that decides the month lands Wednesday afternoon, and the market has already priced the base case. The question is whether the statement turns this support test into a breakdown, or confirms the structural bid sitting underneath.
Key Takeaways Gold futures held $4,337 into the FOMC, at the low end of a $4,336-$4,641 monthl…
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