Gold Slips as War Hikes Oil Prices and Dims Fed Rate-Cut Outlook

From finance.yahoo.com

Gold ticked down, pressured by strength in the US dollar and the prospect of less monetary easing as the war on Iran sent oil prices soaring. Bullion fell as much as 1.3%, erasing earlier gains. The dollar continued its climb, weighing on gold and other precious metals, which are priced in that currency on international markets. Lower US jobless claims in the latest report reaffirmed traders’ outlook that the Federal Reserve is less likely to cut interest rates as higher energy prices spark concern about inflation. Higher rates weigh on gold, a non-yielding asset. “It seems evident, especially in recent days, ... (full story)