After Rate Hike, Economists Weigh Tariffs’ Role in Inflation
- Gold traded steadily around US$4,375 an ounce on Monday as investors weighed persistent inflation risks and the Federal Reserve's recent quarter-point interest rate hike.
- Fed policymakers voted unanimously to raise interest rates by a quarter percentage point at their September 15-16 meeting, with several officials scheduled to speak publicly this week.
- Minneapolis Fed President Neel Kashkari warned on Sunday that inflation remains high, noting that pressures have broadened beyond the oil-price shock from the war involving Iran.
- President Donald Trump said he would "probably" be open to a meeting with Iranian counterpart Masoud Pezeshkian at the United Nations General Assembly in New York.
- With the Fed's rate hike path largely priced in, gold lacks a "real narrative," said Justin Lin, an analyst at Global X ETFs, leaving bullion to trade off oil prices.
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US Treasury yields continue to remain at high levels, putting pressure on gold. Silver prices have also fallen due to this pressure on gold. Let's find out the price of 24-carat gold.
Gold prices started the new week flat to slightly negative. Markets are monitoring developments in the Middle East and the impact of the war on inflation and interest rates.
Gold eases on inflation woes, rate hike fears
Gold prices dropped during the early hours of Asian trading on Monday, driven by escalating tensions in the Middle East and persistent inflation worries sparking interest rate hike predictions. As global central banks react by increasing rates to control inflation, Indian buyers held back on gold purchases, waiting for more favorable pricing. In contrast, silver and platinum markets showed a slight uptick amid the overall precious metal landscap…
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