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Gold drops on stronger US dollar, rising bets on higher interest rates

From kitco.com

Gold prices ​fell on Thursday as the U.S. dollar and oil prices rose after President Donald Trump said the U.S. would continue attacks on Iran, spurring inflation concerns and bolstering expectations of higher interest rates. Spot gold was down 2% at $4,660.95 per ounce as of 11:22 a.m. ​EDT (1522 GMT), after hitting a two-week high earlier in the session. U.S. ​gold futures fell 2.6% to $4,686.80. The dollar rose sharply, making greenback-priced bullion less ⁠affordable to other currency holders. "The market is very focused on Trump's comments, which ​so far offer little sign of a quick resolution to the energy ... (full story)

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  • Category: Fundamental Analysis