Gold Weakens Under Pressure From Surging Oil and Hawkish Fed Outlook
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6 Articles
Washington: Gold prices declined slightly Thursday, amid expectations that the Federal Reserve Council (the United States Central Bank) would raise interest rates again, negatively affecting precious and non-returnable metal. The gold in instant transactions fell 0.3% to $4274.79 per ounce, by 0702 GMT.
Gold Prices Fall as Oil Surge and Strong US Data Boost Rate Hike Expectations
TLDR Gold fell to around $4,280 an ounce after a sharp drop the previous session Oil prices rose after Iran’s president said the Strait of Hormuz will stay closed to free navigation US business activity grew at its fastest pace in more than five years Five-year Treasury yields rose above 5% for the...
Qatar News: Gold settles in the middle of assessing the odds of raising US interest again.
The price of gold has fallen sharply in recent days as rising oil prices and strong US economic data increase concerns that inflation will persist. The market is now pricing in at least three more interest rate hikes from the Federal Reserve by April next year. Despite geopolitical concerns, investors are choosing to avoid gold. The spot price was around $4,290 an ounce on Thursday morning, after a 1.7 percent drop on Wednesday. Strong economy p…
Pressure from the possibility of further interest rate hikes by the US Federal Reserve (Fed), the appreciation of the US dollar, and rising bond yields caused the price of gold to drop to as low as $4,270 per ounce on September 24th.
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