Gold Digger: Gold bulls batten down the hatches as Warsh moves on rates | Stockhead

Gold prices were largely resilient this week despite a U.S. rate hike, with bullion up close to 1% to around US$4,340 per ounce as markets digested the Fed’s first increase in three years. The article notes gold’s long-established inverse relationship with real interest rates, but says the drivers are now broader, including central bank buying, sovereign debt levels, ETF demand, oil prices, inflation and geopolitical risk. It cites CME Fedwatch bets above 55% for another hike in October, to 4–4.25%. Analysts highlighted falling U.S. Treasury yields after the Fed move, plus eight straight days of rising holdings in gold ETFs tracked by Bloomberg.