{
  "id": 6133330,
  "title": "Gold bears retain control as Fed hike bets and Oil-driven inflation weigh",
  "url": "https://urgent.news/2026/09/07/gold-bears-retain-control-as-fed-hike-bets-and-oil-driven-inflation",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-09-07T11:13:47.000Z",
  "source": {
    "name": "FXStreet",
    "slug": "fxstreet",
    "url": "https://www.fxstreet.com/news/gold-bears-retain-control-as-fed-hike-bets-and-oil-driven-inflation-weigh-202609071113"
  },
  "original_language": "en",
  "account": "Gold (XAU/USD) sees a bearish start to the week as Federal Reserve interest rate hikes dominate market sentiment following a strong US employment report. Energy-driven inflation also fuels concerns, as tensions between the United States and Iran remain unresolved. XAU/USD is currently trading near $4,394, down roughly 0.80% for the day, although the metal struggles to sustain selling due to pressure on the US Dollar (USD). The Greenback faces downward pressure as the Japanese Yen strengthens, counteracting hawkish Fed expectations and geopolitical tensions. On Friday, US Nonfarm Payrolls rose by 162K, surpassing expectations, while the Unemployment Rate remained steady at 4.1%. Recently, the US military reportedly struck three Iranian crude oil tankers in response to Iran's missile attacks on two US Navy ships. This conflict adds little support to gold as markets focus on its inflationary impact through higher energy prices. WTI trades near $90.50, close to its highest level since July, contributing to inflation risks globally and strengthening arguments for maintaining higher interest rates for longer, given already high bond yields in major economies. The CME FedWatch Tool indicates a 58% chance of a rate hike at the September 15-16 meeting. Upcoming data points include the US Producer Price Index (PPI) on Thursday and the Consumer Price Index (CPI) on Friday. Inflation readings could reinforce Fed rate hike expectations, while softer figures might provide some relief to gold. At the moment, XAU/USD is below the Bollinger mid-line near $4,466 and the 200-day Simple Moving Average (SMA) at $4,536, indicating a bearish near-term bias. Price still trades above the 100-day SMA at around $4,349 and the lower Bollinger Band at $4,257, signifying downside pressure without complete disorder. The Relative Strength Index (RSI) on the daily chart is around 50, with a negative Moving Average Convergence Divergence (MACD) reading suggesting momentum lacks clear bullish follow-through. On the downside, initial support is expected at the 100-day SMA around $4,349, followed by the lower Bollinger Band near $4,257, before a stronger horizontal floor at $4,000. Conversely, buyers would need to push XAU/USD above the Bollinger mid-line near $4,466 to ease selling pressure, with the 200-day SMA around $4,535 serving as a stronger ceiling before the upper Bollinger band near $4,674.",
  "summary": "Gold (XAU/USD) kicks off the week on a bearish note as Federal Reserve (Fed) interest rate hike concerns dominate market sentiment following the blockbuster US employment report, with energy-driven inflation also in focus as tensions between the United States and Iran continue to simmer.",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "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."
}