FX.co ★ Gold Rebounds From One-Month Low as Dollar Retreats

Gold climbed back above $4,360 an ounce in Wednesday afternoon trading, rebounding from a near one‑month low earlier in the session, as both the US dollar and Treasury yields eased from recent highs. Investors are now focused on Friday’s US payrolls report for clearer signals on the Federal Reserve’s next policy moves. Oil prices reached fresh six‑week highs, with traders weighing heightened supply risks stemming from ongoing Middle East tensions against evidence that crude continues to flow to the market. Meanwhile, the latest ADP data showed US private employers added 38,000 jobs in August, the weakest gain since January and below consensus forecasts of 47,000, reinforcing signs of a broader cooling in the labor market. According to the CME FedWatch Tool, markets are now assigning a 66% probability to a Fed rate hike in September, up from about 40% a week earlier. Separately, the Dutch central bank reported that it had moved 86 metric tons of gold from New York and Ottawa to London over the past six months to enhance tradability and bolster crisis preparedness.