Home News Gold holds gain as traders weigh outlook for Fed tightening path Bullion just capped a fourth straight week of gains, the longest such run in almost a year by Bloomberg August 15, 2022 Gold held an advance as investors assessed the outlook for the Federal Reserve’s monetary policy tightening path amid signs of cooling inflation. Bullion just capped a fourth straight week of gains, the longest such run in almost a year. The precious metal has gained as data showed price pressures in the US were easing, which lent weight the case for the Fed to be less aggressive in increasing interest rates. Traders will be looking to the release of minutes from the Fed’s July meeting, which may offer clues as to what conditions would prompt the US central bank to go big with tightening yet again in September. Bets in financial markets on the size of the next increase have swung between 50 and 75 basis points. Fed Bank of Richmond President Thomas Barkin said Friday the central bank needs to keep raising interest rates until it’s clear inflation is running at its 2 per cent target, even if the economy weakens, to avoid a policy mistake similar to the 1970s. Investors are also monitoring a two-day visit of a US congressional delegation to Taiwan, which risks keeping tensions with China high after House Speaker Nancy Pelosi’s trip earlier this month. Spot gold slipped 0.2 per cent to $1,799.45 an ounce as of 8:29 a.m. in Singapore, after climbing 0.7 per cent on Friday. The Bloomberg Dollar Spot Index steadied. Silver and platinum fell, while palladium rose. Tags Bullion Gold prices 0 Comments You might also like Gold price drifts higher as inflation remains hot Gold continues record rally after US Fed comments World Gold Council, DMCC tie-up brightens UAE’s status as key hub Israel-Palestine crisis: Gold soars as investors bolt for safety