{
  "id": 5386351,
  "title": "Gold soars as Waller's dovish tone hurts Fed hike bets ahead of NFP",
  "url": "https://urgent.news/2026/09/03/gold-soars-as-wallers-dovish-tone-hurts-fed-hike-bets-ahead-of-nfp",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-09-03T18:20:30.000Z",
  "source": {
    "name": "FXStreet",
    "slug": "fxstreet",
    "url": "https://www.fxstreet.com/news/gold-soars-as-wallers-dovish-tone-hurts-fed-hike-bets-ahead-of-nfp-202609031820"
  },
  "original_language": "en",
  "account": "Gold prices surged by over 2% on Thursday, driven by Federal Reserve Governor Christopher Waller's dovish remarks that suggested holding interest rates steady if inflation continues to decline. Waller's comments, which have become more neutral, indicated that if inflation cools, he would support keeping rates unchanged. However, he did not rule out a rate hike if prices rise higher than anticipated. The release of US jobs data showed a low-firing, low-hiring labor market, as initial jobless claims rose to 206K, slightly above the projected 205K. The ISM Services PMI indicated solid business activity in the services sector, with input costs remaining high. The Prices Paid sub-component jumped to its highest level since August 2022. In response to Waller's comments, money markets priced in a lower chance of a 25 basis point rate hike at the Federal Reserve's September meeting, at 54%, compared to a 46% chance for holding rates steady. Traders focused on speeches from Federal Reserve officials, including Beth Hammack from the Cleveland Fed, and the upcoming Nonfarm Payrolls report for August. Gold's price broke above the September 1 high of $4,461 and moved closer to the $4,500 level as traders took advantage of the broader US Dollar weakness. The Relative Strength Index (RSI) indicated moderately bullish momentum for gold, with the price potentially continuing to rise. If gold surpassed $4,500, the next resistance would be the 200-day Simple Moving Average (SMA) at $4.533, followed by the $4,600 milestone and the August monthly high of $4,697. Support for gold was at the $4,400 mark, with further support at the 100-day SMA at $4,358 and the 50-day SMA at $4,232. Gold has historically been used as a store of value, medium of exchange, and safe-haven asset, particularly during turbulent times. Central banks are major holders of gold, often diversifying their reserves to support currencies and maintain economic stability. Gold's inverse correlation with the US Dollar and US Treasuries means that when the Dollar depreciates, gold tends to rise, providing investors and central banks with a way to diversify their assets.",
  "summary": "Gold (XAU/USD) rallies more than 2% on Thursday following dovish comments by Federal Reserve (Fed) Governor Christopher Waller, who advocated holding rates steady if inflation data shows the disinflation process continues.",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 3,
    "also_reported_by": [
      {
        "outlet": "Investing.com",
        "title": "Trading Day: Waller cools Fed hike hoopla",
        "url": "https://urgent.news/2026/09/03/trading-day-waller-cools-fed-hike-hoopla",
        "published": "2026-09-03T21:07:04.000Z"
      },
      {
        "outlet": "FXStreet",
        "title": "Mexican Peso rescued by Waller’s dovish tilt, appreciates ahead of NFP",
        "url": "https://urgent.news/2026/09/03/mexican-peso-rescued-by-wallers-dovish-tilt-appreciates-ahead-of-nfp",
        "published": "2026-09-03T21:42:47.000Z"
      }
    ]
  },
  "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."
}