Gold prices rebound after softer-than-expected jobs data and Federal Reserve Chairman Kevin Warsh not giving any signal as to whether the central bank would consider raising interest rates at its next meeting. In afternoon trading, New York gold futures rise 1.5% to $4,100.60 a troy ounce. According to the CME FedWatch tool, traders are currently pricing in about a 64% chance of an interest-rate hike for September. Bullion is typically seen as a hedge against inflation, though a higher interest-rate environment tends to diminish the nonyielding asset's appeal. "Now it is up to US data to keep those hawkish Fed bets alive, making tomorrow's NFP data a major market event," says Fawad Razaqzada, market analyst at Forex.com. (giulia.petroni@wsj.com)
Dow Jones Newswires
Gold Rebounds After U.S. Jobs Data, Fed Chairman Remarks — Market Talk
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Gold prices rebound after softer-than-expected jobs data and Federal Reserve Chairman Kevin Warsh not giving any signal as to whether the central bank would consider raising interest rates at its next meeting. In afternoon trading, New York gold futures rise 1.5% to $4,100.60 a troy ounce. Accordi…