Gold posted a modest gain in European morning trading as investors moved toward safe-haven assets. ING analysts said elevated U.S. Treasury yields and a stronger dollar could cap further upside in bullion prices. Separately, the CME FedWatch tool showed traders pricing the probability of a Federal Reserve rate hike in October at just 22%. The move in gold came against a macro backdrop where defensive positioning supported demand, while tighter financial conditions continued to limit how far prices could rise. The update points to a market balancing near-term haven demand with pressure from high yields and dollar strength.
Gold rose slightly in European morning trade as investors sought safe-haven assets.
Analysts at ING said elevated U.S. Treasury yields and a stronger dollar could limit gains in gold prices.
The CME FedWatch tool showed traders see the probability of a Federal Reserve rate hike in October at only 22%.
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