{
  "id": 1588887,
  "title": "Gold gains momentum above $4,400 as softer US data dampens Fed hike odds",
  "url": "https://urgent.news/2026/08/17/gold-gains-momentum-above-4-400-as-softer-us-data-dampens-fed-hike",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-08-17T23:27:26.000Z",
  "source": {
    "name": "FXStreet",
    "slug": "fxstreet",
    "url": "https://www.fxstreet.com/news/gold-gains-momentum-above-4-400-as-softer-us-data-dampens-fed-hike-odds-202608172327"
  },
  "original_language": "en",
  "account": "Gold prices rose above $4,400 on Tuesday, fueled by softer U.S. economic data that dampened expectations of further Federal Reserve rate hikes. Traders are watching closely the Middle East conflicts, which could reignite oil-driven inflation and weigh on the yellow metal. July's unexpected decline in U.S. Nonfarm Payrolls, coupled with modest consumer price inflation, has reduced expectations of a U.S. interest rate increase next month, leading to some selling pressure on the U.S. Dollar and making bullion cheaper for buyers. The chance of a Fed rate hike at the upcoming policy meeting has dropped from 47% to 35%, according to the CME FedWatch Tool. On the other hand, ongoing Middle East tensions could revive oil inflation concerns and put pressure on gold prices. HSBC's chief precious metals analyst, James Steel, believes that if oil does not drive inflation again and Middle East tensions do not flare up, gold may continue its upward trend. ING analysts note that China's retail sales fell short of expectations in July, indicating fragile demand despite policy efforts to support spending. The current bullish near-term bias for gold is supported by its price being above the 100-day simple moving average and the Bollinger middle band. However, immediate resistance is seen at the upper Bollinger band near $4,485, while support is near the 100-day SMA around $4,385.",
  "summary": "Gold price (XAU/USD) edges higher to near $4,415 during the early Asian session on Tuesday. The precious metal extends its upside amid fading expectations for further US Federal Reserve (Fed) rate hikes. Traders will closely monitor the developments surrounding the Middle East conflicts.",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 4,
    "also_reported_by": [
      {
        "outlet": "New Straits Times",
        "title": "Gold extends gains on easing rate-hike fears, markets await Fed minutes",
        "url": "https://urgent.news/2026/08/18/gold-extends-gains-on-easing-rate-hike-fears-markets-await-fed-minutes",
        "published": "2026-08-18T02:47:55.000Z"
      },
      {
        "outlet": "Business Recorder",
        "title": "Gold extends gains on easing rate-hike fears, markets await Fed minutes",
        "url": "https://urgent.news/2026/08/18/gold-extends-gains-on-easing-rate-hike-fears-markets-await-fed-minutes-1617444",
        "published": "2026-08-18T02:58:56.000Z"
      },
      {
        "outlet": "Hindu BusinessLine",
        "title": "Gold extends gains on easing rate-hike fears, markets await Fed minutes",
        "url": "https://urgent.news/2026/08/18/gold-extends-gains-on-easing-rate-hike-fears-markets-await-fed-minutes-1622479",
        "published": "2026-08-18T03:20:27.000Z"
      }
    ]
  },
  "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."
}