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Gold Loses Its Third Percent Since the Start of the Month
Gold holds recent losses after stronger-than-expected
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Gold holds recent losses after stronger-than-expected US data reinforced bets on another Federal Reserve rate hike in the fight against inflation. The metal is trading around $4,280 per ounce, retracing a 1.7% drop from the previous day.Gold's trajectory in recent weeks has been driven by the expected path of the Fed's policy rate: investors are trying to assess whether high energy prices will keep inflationary pressure at a level that justifies further hikes, which is usually negative for a non-yielding
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Miroslaw Bawulski,
Analytical expert of InstaForex
© 2007-2026
EUR
Summary
Neutral
Urgency
1 day
Analytic
Maxim Magdalinin
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