Gold recovered toward $4,150 as Treasury yields fell and the U.S. Dollar weakened against a broad basket of currencies.
Bond buying increased as pressure spread through AI-related markets. CoreWeave’s credit-default swaps priced in a more than 50% chance of default over five years, while a sell-off in the company’s bonds weighed on AI-related stocks and increased demand for U.S.
Expectations for an October Federal Reserve rate increase also eased, with the probability falling to 29. The lower rate-hike probability added support to gold, which was testing resistance between $4,160 and $4,180. A sustained move above $4,180 could expose the $4,300-$4,320 range, while its moderate relative-strength reading indicated room for further momentum if supportive conditions continued.
Platinum moved above $1,600 as precious metals broadly rebounded, while palladium gained 3. Platinum’s next upside levels were $1,700-$1,720 and then $1,755, identified as its 50-day moving average. A break below the $1,600-$1,620 support area could shift attention toward $1,520-$1,540.