Gold steady as firm dollar counters softer US rate-hike bets
· economictimes.indiatimes.com
Gold prices demonstrated stability amidst a stronger dollar, which countered the positive effects of moderating Federal Reserve rate hike anticipations. The price for spot gold remained steady at $4,141.81 per ounce, while US gold futures experienced a slight increase, reaching $4,169.10. The ongoing rise in interest rates raises the opportunity cost associated with gold, making it less appealing for investors.
Synopsis
Gold prices demonstrated stability amidst a stronger dollar, which countered the positive effects of moderating Federal Reserve rate hike anticipation...