Gold approaches $4,600/oz after U.S. weekly jobless claims fall to 203k

Nasdaq futures fell as chipmakers declined due to AI slowdown concerns. U.S. inflation data showed mixed results, with core CPI rising 0.3% m/m. The Fed is expected to hike rates by 25 bps. Salesforce and Lennar are among companies with upcoming events. European and Asian markets also declined, with tech and chip stocks leading losses.

Japan's 20-year bond yield rose to 3.856% at a recent auction, signaling higher long-term borrowing costs. This could pressure leveraged Bitcoin positions if BOJ policy raises yen borrowing costs or strengthens the yen. The BOJ meets Sept. 17–18, which may influence Bitcoin's carry risk. Bitcoin's price has fluctuated recently, down 3.97% in 24 hours but up 20.35% in 30 days.

US debt surpassed $40 trillion, leading to a decline in Treasuries and the dollar. Investors shifted to Bitcoin and gold, with Bitcoin rising 23% to $77,000 and gold prices increasing. The 90-day correlation between the two assets hit multi-year highs. Options data shows strong bullish sentiment for gold and balanced sentiment for Bitcoin. Research suggests a blended allocation of Bitcoin and gold offers better risk-adjusted returns than traditional portfolios.

The first Canada Investment Summit resulted in nearly $500 billion in new investment commitments. Key participants included CPP Investments, PSP Investments, and major Canadian banks, with commitments in infrastructure, energy, and technology. The government also announced tax incentives and private investment in airports and critical sectors.

The Federal Reserve is expected to raise interest rates by 0.25% to 3.75%-4.00% on Wednesday, with a 93% probability according to traders. The focus will be on the dot plot for future hikes, inflation and growth forecasts, and Fed Chair Kevin Warsh's press conference for hints on an October hike. ETFs like SPY, QQQ, TLT, GLD, and IBIT may see volatility.

ADP reported that U.S. private employers added 16,250 jobs weekly in August 2026, per its NER Pulse. This marks a second consecutive week of growth. The data is preliminary and seasonally adjusted, with a two-week lag. ADP, a global HR and payroll solutions provider, publishes the NER Pulse weekly, except on monthly report weeks.