Report

rss

Iraq News

Kurdistan

Economy

World

All News

Gold slips as Fed rate-hike bets lift yields ahead of U.S. data

Category: Economy

Date: 2022-01-10T07:29:10+0000
Gold slips as Fed rate-hike bets lift yields ahead of U.S. data

Shafaq News / Gold prices eased on Monday as traders awaited December U.S. inflation data that could stress the need for earlier-than-anticipated interest rate hikes by the Federal Reserve.

Spot gold was down 0.2% at $1,792.22 per ounce, as of 0455 GMT, after hitting its lowest level since Dec. 16 of $1,782.10 on Friday. U.S. gold futures fell 0.3% to $1,791.30.

U.S. Treasury yields surged last week after Fed minutes suggested the possibility that the central bank might reduce its balance sheet sooner than anticipated.

Gold is considered a hedge against higher inflation, but the metal is highly sensitive to rising U.S. interest rates, which increase the opportunity cost of holding non-yielding bullion.

Fed funds futures have priced in an almost 90% chance of a rate hike in March and a more than 90% chance of another one by June.

Source: Reuters

related

Gold prices dropped in the Iraqi market

Date: 2021-09-08 09:53:36
Gold prices dropped in the Iraqi market

Gold little changed as focus remains on Ukraine crisis

Date: 2022-03-21 06:59:36
Gold little changed as focus remains on Ukraine crisis

PRECIOUS-Gold dips after Fed chief reaffirms inflation fight

Date: 2022-06-23 06:20:58
PRECIOUS-Gold dips after Fed chief reaffirms inflation fight

PRECIOUS-Gold prices hit 5-month peak on weaker dollar, inflation worries

Date: 2021-06-01 08:10:26
PRECIOUS-Gold prices hit 5-month peak on weaker dollar, inflation worries

Gold prices in the Iraqi local markets today

Date: 2021-03-11 08:58:58
Gold prices in the Iraqi local markets today

Gold inched up in Iraq today

Date: 2021-07-06 09:14:40
Gold inched up in Iraq today

Gold flat ahead of U.S. inflation data

Date: 2022-01-12 08:07:02
Gold flat ahead of U.S. inflation data

Gold prices drop in the Iraqi capital today

Date: 2022-04-26 10:28:22
Gold prices drop in the Iraqi capital today