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Gold falls as Iran war, robust US jobs data dim Fed rate-cut hopes

From brecorder.com

Gold prices fell on Monday, pressured by a stronger dollar as elevated oil prices on the back of a protracted Iran war and stronger-than-expected U.S. jobs data dampened hopes for interest rate cuts by the Federal Reserve. Spot ​gold slipped 0.9% to $4,631.69 per ounce by 0306 GMT, while U.S. ​gold futures for April delivery lost 0.5% to $4,657.50 in thin liquidity ⁠trade, with many markets in Asia and Europe closed for a holiday. “The latest ​robust NFP print has reinforced hawkish central bank nerves, while persistent oil-driven inflation ​fears continue to crowd out gold’s traditional safe-haven sparkle,” said Tim ... (full story)

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  • Category: Fundamental Analysis