Archive · Business Recorder
Gold drops more than 1% on US rate-hike bets
Gold prices fell more than 1% on Monday as a rise in oil prices heightened inflation concerns and reinforced expectations of further Federal Reserve interest rate hikes. Spot gold was down 1.5% at $4,223.95 per ounce, as of 0117 GMT. US gold futures fell 1.5% to $4,257.90. “The high bond yields and high oil price tandem continues to act as a thorn in gold’s side. Oil prices have risen on mixed signals about oil flows, which is keeping inflation front and centre for investors,“ said Tim Waterer, chief market analyst at KCM Trade. Iran insisted that only diplomacy can solve its conflict w...
ZAZTEK archives the headline, summary and publication date so the story stays findable. The full article remains the publisher's. Read it at Business Recorder →