Gold Holds Near $4,400 as Central Banks Absorb Supply
Gold took the Federal Reserve's first rate hike in three years in stride and settled Thursday at $4,399.70 (GC=F), up 0.6% on the week from Monday's open of $4,375. The path was bumpier than the level suggests: the metal slid to $4,273.30, its lowest level in over a month, ahead of the September 16 decision on oil-driven inflation, then recovered as buyers stepped in below $4,300.
Key Takeaways Gold futures settled Thursday at $4,399.70, up 0.6% on the week after touching $4,273.30, its lowest level in over a month. Central banks bought a record 288.9 tonnes of gold in Q2, with Goldman Sachs nowcasting near 100 tonnes a month in June. WTI settled Thursday at $101.91, about 3.7% off the $105.8…
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