Gold stabilized above $4,000 an ounce on Thursday

 

Gold Run Today  - Gold stabilized above $4,000 an ounce on Thursday after falling to an eight-month low earlier this week, as Federal Reserve Chair Kevin Warsh said inflation expectations had eased over the past month, suggesting there was no urgency to raise interest rates.  However, he reiterated the central bank’s commitment to restoring price stability.  Investors are now awaiting the nonfarm payrolls report later today for fresh insights into labor market conditions and the Fed's policy outlook. Data released on Wednesday also showed that private sector hiring in the United States slowed more than anticipated last month. Markets continue to price in more than a 60% chance of a Fed rate hike in September.  Gold also drew support from rising oil shipments through the Strait of Hormuz and signs of progress in indirect US-Iran talks, which pushed oil prices lower and eased inflation concerns