Gold Retracts Below $4,100 Ahead of US CPI as Fed Rate Hikes Drive USD Momentum
5 Articles
5 Articles
Inflation exceeding expectations in the US has revived expectations of interest rate hikes in the markets. Changing predictions regarding the Fed's monetary policy put pressure on precious metals, leading to sharp sell-offs in the gold market.
The price of gold fell by almost two percent on Tuesday, supported by statements from the governor of the US Federal Reserve (Fed) that in the event of unfavorable inflation data, interest rates will need to be raised more significantly. Reuters reported this. The spot price of gold reached before 13:00 CET...
Gold Retracts Below $4,100 Ahead of US CPI as Fed Rate Hikes Drive USD Momentum
Gold (XAU/USD) came under downside pressure during European trading on Tuesday, pulling back below the $4,100 mark to erase a major portion of Monday’s advance toward the $4,150 resistance ceiling. The pullback comes as firming expectations for additional Federal Reserve monetary tightening bolster flows into non-yielding dollar assets. However, downside follow-through remains capped as market participants exercise caution ahead of critical US C…
Gold prices fell by more than 1% this Tuesday, after Federal Reserve Governor Christopher Waller stated that aggressive monetary policy might be needed if inflation continues to accelerate.
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