Gold Rises to Around $4,175 in Early Asia Trade as Fed Chair Warsh Gives No Policy Signal in Bangkok
Gold prices rose in early Asian trading on Monday, October 19, with spot gold up 0.2% at $4,174.54 per ounce by 0031 GMT and trading around $4,175, Reuters reported. The metal touched an intraday high of $4,187.66, while spot silver gained 0.5% to $57.26 per ounce.
The advance came as traders reassessed the Federal Reserve's rate path. Fed Chair Kevin Warsh, speaking during the International Monetary Fund meetings in Bangkok, voiced optimism about U.S. economic strength but gave no clues about the trajectory of interest rates. The Fed has entered its communications blackout ahead of its October 28 policy decision, and traders largely expect officials to hold rates steady this month.
A softer dollar and lower Treasury yields also supported bullion: the dollar index slipped below 102 and the benchmark 10-year Treasury yield eased to about 5.06%. 'While inflation remains a concern and further tightening cannot be ruled out, Warsh's latest tone suggests little urgency to deliver consecutive rate hikes,' said Gerald Gan, chief investment officer at Reed Capital Partners.
Geopolitical risks remained in focus, with maritime authorities reporting attacks on commercial vessels around the Strait of Hormuz and an Iranian official warning on Sunday that Tehran has prepared a retaliation plan for any renewed U.S.-Israeli attack. Gold had already climbed above $4,150 the previous week amid the equity selloff. (GSM, via Reuters)
Published by GSM · USA (original Chinese edition)
Photo: 图：瑞士货币博物馆展出的12.5公斤金条（资料图）。图片来源：Wikimedia Commons，CC BY-SA 4.0。Photo: A 12.5 kg gold bar on display at the Swiss Money Museum (file photo). Image: via Wikimedia Commons, CC BY-SA 4.0.
