Gold prices today, September 10th, surge as USD weakens, market influenced by the Fed; is the downward trend only temporary? - Vietnam.vn

AI desk brief

Gold surged as the US dollar weakened, with international spot quoted at $4,390.9-$4,392.9/oz, up $36 on the session, while the market looks ahead to this week’s US PPI and CPI releases and the Fed’s Sept. 15-16 meeting. CME FedWatch pricing implies about a 60% chance of another Fed hike, but Goldman Sachs said the recent decline since February may be temporary, with $4,000 described as a strong support zone and institutional buying emerging there.

Goldman also reiterated a bullish medium-term view, projecting gold at $4,900/oz by end-2026 on continued central bank accumulation, with average official-sector buying seen around 50t/month this year. The note highlighted that higher Treasury yields, firmer oil, and tighter Fed expectations can still cap upside near term, while derivative hedging and short covering may amplify volatility if prices push through key levels.