Gold prices in New York edged down moderately on the 7th amid quiet trading

　　Source: Xinhua Finance

　　Xinhua Finance, New York, September 7 (Reporter Xu Jing) — On September 7, the most actively traded December 2026 gold futures on the New York Commodity Exchange fell by $25.2, closing at $4,452 per ounce, a decrease of 0.56%.

　　With the U.S. market closed for Labor Day, trading activity remained subdued. Although gold prices briefly touched a low of $4,381 during the session, the decline was limited by a weaker U.S. dollar, which helped gold recover some of its early losses and eventually close above $4,400.

　　Specifically, on the day, the U.S. dollar faced selling pressure as the strong yen offset both the hawkish expectations for the Federal Reserve and support from geopolitical tensions. The U.S. dollar traded near 154.40 against the yen, down about 3.30% from the beginning of the month, retreating to levels last seen in February.

　　However, due to the much better-than-expected U.S. employment report released on the 4th, expectations of Federal Reserve interest rate hikes began to dominate market sentiment, making it difficult for gold to attract strong follow-up buying.

　　In addition, as tensions between the U.S. and Iran continue to escalate, rising oil prices have also made energy-driven inflation risks a key focus for the market.

　　Looking ahead, analysts believe that gold prices will remain sensitive to Federal Reserve rate hike expectations and developments in the Middle East. In the short term, the U.S. Producer Price Index (PPI) and Consumer Price Index (CPI), to be released on the 10th and 11th respectively, may offer some market guidance.

　　On the same day, December silver futures settled at $66.815 per ounce, down 0.5 cents from the previous settlement, a decrease of 0.01%.

Editor: Zhu Henan