Gold Drops 1% to $4,590 as US Inflation Boosts Dollar, Treasury Yields
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The price of precious metal dropped by 1.3 per cent as a result of a profit take-over and the strengthening of the dollar, in a context of higher expectations about the rates of the Federal Reserve. The price of spot gold fell by 1.3 per cent on Wednesday, contributing to $4,594.84 per ounce at 15:31 GMT. The fall occurred after prices reached their highest level on Tuesday from 14 May. On the same day, the futures of gold in the United States d…
Gold prices extended their losses on Wednesday after U.S. inflation data was largely in line with expectations, raising bets on…More...
Gold drops 1% to $4,590 as US inflation boosts dollar, Treasury yields
Rising US inflation and Treasury yields may continue to pressure gold prices, affecting its appeal as a safe-haven asset and investment strategy. The post Gold drops 1% to $4,590 as US inflation boosts dollar, Treasury yields appeared first on Crypto Briefing.
Gold prices spread their losses on Wednesday after U.S. inflation data matched expectations, increasing bets on a Federal Reserve interest rate hike in September, while investors expected President Kevin Warsh's statements this week.
Metal for December closed down by 0.88%
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