Investors predict the Fed would begin raising interest rates in December as the recent comments and economic data have raised this possibility.

U.S. initial jobless claims for last week fell to a one-month low before the release of the infamous non-farm payrolls report next week.

With the improvement in the labor market conditions, the Fed is likely to hike its interest rates as soon as December.

Recent inflation data also showed that prices have started to rise, raising expectations it would continue to increase gradually towards the Fed’ target.

The U.S. dollar continued to put gold under pressure as it soared to a high of 100.88 against a basket of major currencies.

The dollar index is currently hovering around 99.86, compared to the session’s opening at 99.93.

Gold hit a low of $1066.38 an ounce, while it currently trading at $1068.28, where it opened at $1071.60.

Now, gold is poised for its sixth straight weekly decline and its third consecutive annual loss.

Brent crude slipped for a second straight session to $45.07 a barrel, yet may lock a weekly gain this week.

• Wall Street all in on further gains for gold, Main Street grows more bullish for next week’s price action   (2024-10-19 10:12:59)
• Gold shines as ultimate safe-haven asset, set to hit $3,000/oz by 2025 – Bank of America   (2024-10-19 10:07:32)
• Gold and silver to rally through the end of 2024, copper likely to lag – Prosper’s Scott Bauer   (2024-08-15 06:23:01)
• Wall Street experts see gold gaining on renewed recession fears, Main Street bullishness not far behind   (2024-08-04 16:15:53)
• Phố Wall chứng kiến ​​đà tăng giá vàng mới vào tuần tới, tâm lý lạc quan của Phố Main tăng lên   (2024-07-27 17:29:24)
• Wall Street sees renewed momentum for gold prices next week, Main Street’s bullish sentiment increases   (2024-07-27 17:26:59)
• Wall Street is balanced and cautious on gold next week, Main Street remains optimistic about price gains   (2024-07-20 08:49:41)
• September rate cut and Trump policies are boosting gold demand – FX Empire’s Ali   (2024-07-19 05:12:10)
• Gold price will average $2,500 per ounce in Q4 2024 as bull case remains intact despite sharp gains – JPMorgan   (2024-07-18 11:18:51)
• Wall Street sees green lights for gold next week; Main Street jumps back on the bullish bandwagon   (2024-07-06 04:25:55)