{
  "id": 1386769,
  "title": "Gold gains momentum to near $4,400 as Fed hike expectations drop despite Us-Iran tensions",
  "url": "https://urgent.news/2026/08/17/gold-gains-momentum-to-near-4-400-as-fed-hike-expectations-drop",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-08-17T00:58:56.000Z",
  "source": {
    "name": "FXStreet",
    "slug": "fxstreet",
    "url": "https://www.fxstreet.com/news/gold-gains-momentum-to-near-4-400-as-fed-hike-expectations-drop-despite-us-iran-tensions-202608170058"
  },
  "original_language": "en",
  "account": "Gold prices surged to around $4,395 at the beginning of Asian trading on Monday. The increase came as disappointing US inflation data dampened predictions of a Federal Reserve (Fed) interest rate hike. The US Census Bureau reported that retail sales declined by 0.6% month-over-month in July, following a 0.2% rise in June. This figure fell short of expectations of 0.1% growth. On an annual basis, retail sales increased by 5.0% in July, down from the previously reported 6.8% rate. The lower inflation expectations weighed on the US Dollar (USD), which in turn supported the price of gold, a USD-denominated commodity. The FedWatch tool indicated a 33.1% probability of a September Fed rate hike, but as interest rates remain low, holding non-yielding bullion becomes more attractive. The Middle East tensions, however, could limit gold's upside potential. Iran's Deputy Foreign Minister called on the US to accept defeat and stop delusions after Trump suggested he would declare the Strait of Hormuz a \"U.S. territory.\" Iran's Foreign Minister stated that there are no current negotiations between Tehran and Washington. Analysts at Commerzbank see supportive factors for gold, as they expect the Fed not to raise interest rates, leaving room for further gold price appreciation. The metal's resistance level is around $4,480, while its support lies at the 100-day simple moving average ($4,385.85) and the Bollinger middle band around $4,195.",
  "summary": "Gold price (XAU/USD) gains momentum to around $4,395 during the early Asian trading hours on Monday. The precious metal extends the rally as cooling US inflation data has dampened expectations for the US Federal Reserve (Fed) interest rate hike.",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 5,
    "also_reported_by": [
      {
        "outlet": "FXStreet",
        "title": "Australian Dollar gains traction to near 0.7100 on fading Fed hike bets",
        "url": "https://urgent.news/2026/08/16/australian-dollar-gains-traction-to-near-0-7100-on-fading-fed-hike",
        "published": "2026-08-16T23:29:08.000Z"
      },
      {
        "outlet": "The Economic Times - Top News",
        "title": "Global Market Today: Asian shares mixed, dollar dips as Fed hike bets ease",
        "url": "https://urgent.news/2026/08/17/global-market-today-asian-shares-mixed-dollar-dips-as-fed-hike-bets",
        "published": "2026-08-17T01:06:47.000Z"
      },
      {
        "outlet": "New Straits Times",
        "title": "Yen edges up as traders push back Fed rate hike bets",
        "url": "https://urgent.news/2026/08/17/yen-edges-up-as-traders-push-back-fed-rate-hike-bets",
        "published": "2026-08-17T01:08:06.000Z"
      },
      {
        "outlet": "Free Malaysia Today",
        "title": "Yen edges up as traders push back Fed rate hike bets",
        "url": "https://urgent.news/2026/08/17/yen-edges-up-as-traders-push-back-fed-rate-hike-bets-1394770",
        "published": "2026-08-17T01:22:00.000Z"
      }
    ]
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}