Gold Falls for a Third Straight Session as Fed Rate Expectations Weigh
Front-month gold futures settled lower for a third consecutive trading day, bringing the three-day decline to roughly 2%. Prices appear to be reacting to a growing market view that the Federal Reserve may at least consider raising interest rates, even though new Fed Chair Kevin Warsh was appointed by President Donald Trump with an emphasis on lowering rates.
The US dollar index was little changed, but investor preference leaned toward stronger bonds and US Treasuries, which offered a more attractive alternative than non-yielding precious metals in a higher-rate narrative.
Gold settled down 1.2% at $4,447.50 per troy ounce, while silver fell 2.2% to $74.599 per ounce.
Source : Newsmaker.id
