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The Economic Times

Business

Gold jumps 2% as Fed Governor Waller's comments temper rate hike bets

US Federal Reserve Christopher Waller Gold United States Inflation

Gold rose more than 2% on Thursday as traders scaled back September rate hike expectations after Federal Reserve Governor Christopher Waller said he would support leaving interest rates unchanged if data continues to show inflation pressures moderating.

Spot gold rose 2.3% to $4,488.54 per ounce by 02:04 p.m. ET(1804 GMT), after touching its highest since August 28 earlier ‌in the ⁠session.

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