10:00 - 17.08.2026

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August 17, Fineko/abc.az. Gold prices started the week higher as a softening U.S. dollar and moderate economic data reduced expectations of a Federal Reserve interest rate hike next month.

Spot gold climbed 0.4% to $4,391.07 per ounce, following last week's rally to a more than two-month high. U.S. gold futures for December delivery also advanced 0.3% to $4,448.10.

A 0.1% decline in the U.S. Dollar Index made greenback-priced bullion more affordable for overseas buyers. Tim Waterer, chief market analyst at KCM Trade, noted that subdued inflation data continues to weigh on the dollar, creating space for gold to push toward the $4,400 level. He added that a sustained move above $4,500 may require further dollar weakness or a pull-back in energy prices.

Weaker-than-expected U.S. non-farm payrolls for July and mild consumer inflation readings have dampened expectations of a Fed rate hike in September. According to the CME FedWatch Tool, markets are currently pricing in a 30% chance of a rate increase next month, down from 47% a month ago.

Investors are now looking ahead to the release of the minutes from the Federal Reserve's July policy meeting on Wednesday for further cues on interest rate trajectories.