Gold found its footing overnight, bouncing back from July lows to trade around US$3,296, up 0.61% on the day. While the US Dollar held firm and the Fed signalled no immediate policy shift, gold buyers stepped in, a timely reminder of the metal’s enduring role as a hedge in uncertain macro conditions.
We often talk about gold not just as an asset, but as a store of value that behaves rationally when the world doesn’t. The rebound this week reinforces that, even in a strong-dollar environment, demand can surface quickly when markets feel stretched.
The US Federal Reserve voted 9–2 to keep interest rates on hold at 4.25–4.50%. While some participants had hoped for dovish signals, Chair Jerome Powell reiterated a meeting-by-meeting approach, playing down expectations of a September cut and tempering market sentiment.
Alongside that, the Fed’s preferred inflation measure, Core PCE, ticked up to 2.8% YoY, while jobless claims came in lower than forecast at 218K. These indicators suggest the Fed still sees a resilient economy, and that rate cuts aren’t coming as fast as markets might like.
This has kept pressure on Treasury yields, which dipped slightly, a move that tends to benefit gold. The 10-year note is now at 4.34%, and real yields continue to ease, creating room for bullion to stabilise.
After briefly dipping to US$3,268, spot gold attracted strong buying interest. That level marked a key technical support zone, and while indicators like the RSI had turned bearish, price action suggests we may be seeing a healthy correction rather than a structural decline.
In short, this wasn’t gold breaking down; it was gold being bought on sale.
For investors using our Gold Standard (AUS) token, this kind of movement reinforces the benefit of holding digital gold that’s fully backed, fully allocated, and instantly tradable. When volatility creates opportunity, our platform makes it easier to act.
All eyes now turn to Friday’s Non-Farm Payrolls, alongside manufacturing and consumer sentiment data. Markets are seeking clarity on whether the recent strength in jobs and inflation will keep the Fed cautious or prompt a more decisive pivot later this year.
Until then, the range looks intact: technical resistance sits at US$3,300, with further upside at US$3,339 and US$3,350 if momentum builds. On the downside, the 100-day moving average at US$3,250 remains a key support level.
Whether it’s geopolitical noise, economic rebalancing, or central bank caution, gold continues to do what it always has: offer resilience. And with products like Gold Standard (AUS) providing real gold ownership in digital form, investors have more tools than ever to move quickly when opportunity knocks.
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