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FUNDAMENTALS Spot gold was up 0.5% at $4,283.45 per ounce, as of 0015 GMT, after hitting its lowest level since August 7 on Wednesday. U.S. gold futures for December delivery were down 1.5% at $4,321.80. The Fed raised interest rates on Wednesday and flagged more hikes in the coming months, with new U.S. central bank chief Kevin Warsh joining a unanimous decision that effectively acknowledges the Trump administration's inability so far to control inflation that policymakers worry could worsen. "There's been a pretty wide-ranging set of data, including the labor markets, that the economy has strengthened," Warsh told reporters in listing the reasons that prompted him to support a rate hike after advocating that rates should remain on hold at the Fed's July 28-29 meeting. Rising interest rates tend to pressure gold by increasing the appeal of interest-bearing assets. Data showed U.S. retail sales rebounded sharply in August as households boosted purchases of a range of goods while also spending more at restaurants and bars, reinforcing the economy's resilience even as consumers grow more anxious about high inflation. The Bank of England looks set to keep interest rates on hold on Thursday but investors are watching for any hint that surging energy prices could force it to follow the Fed's example. Elsewhere, Saudi warplanes pounded Yemen, the Houthis said, as the Iran-backed fighters solidified their gains after a lightning advance that has extended Tehran's reach in the Middle East war and further disrupted global oil supplies. Spot silver rose 0.6% at $63.35, platinum gained 0.8% to $1,765.65 and palladium climbed 1.4% to $1,286.95. DATA/EVENTS (GMT) 0900 EU HICP Final MM, YY Aug 1100 UK BOE Bank Rate Sep 1230 US Housing Starts Number Aug 1230 US Initial Jobless Clm 12 Sep, w/e 1230 US Philly Fed Business Indx Sep (What's moving Sensex and Nifty Track latest market news, stock tips, Budget 2025, Share Market on Budget 2025 and expert advice, on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .) Subscribe to ET Prime and read the Economic Times ePaper Online.and Sensex Today. Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price (What's moving Sensex and Nifty Track latest market news, stock tips, Budget 2025, Share Market on Budget 2025 and expert advice, on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .) Subscribe to ET Prime and read the Economic Times ePaper Online.and Sensex Today. Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price
document fetched 2026-09-17 02:49