Politics
Gold Set for Weekly Loss as Hawkish Fed Outweighs Peace Deal
Key Points
Gold Set for Weekly Loss as Hawkish Fed Outweighs Peace Deal Gold is on track for a third weekly loss, as a hawkish Federal Reserve and rate-hike bets outweigh the signing of an interim peace deal between the US and Iran. Bullion was below $4,200 an ounce in early trading, after falling 1.1% on Thursday, and is set for a moderate decline this week. New Fed Chairman Kevin Warsh’s hawkish tone on Wednesday raised bets for a tightening of monetary policy this year, weighing on gold which...
Gold Set for Weekly Loss as Hawkish Fed Outweighs Peace Deal
Gold is on track for a third weekly loss, as a hawkish Federal Reserve and rate-hike bets outweigh the signing of an interim peace deal between the US and Iran.
Bullion was below $4,200 an ounce in early trading, after falling 1.1% on Thursday, and is set for a moderate decline this week. New Fed Chairman Kevin Warsh’s hawkish tone on Wednesday raised bets for a tightening of monetary policy this year, weighing on gold which doesn’t pay interest.