Gold Sheds $47 as Rate-Hike Fears and a Thin Trump-Xi Statement Compound the Sell-Off | Metals Mine

  • Gold Sheds $47 as Rate-Hike Fears and a Thin Trump-Xi Statement Compound the Sell-Off

    From thegoldforecast.com

    Gold suffered its third consecutive session of losses on Thursday, dropping $47 per ounce in a sell-off that extended the metal's retreat from its all-time highs and pushed prices deeper into correction territory. The decline was driven by a fresh wave of inflation data that cemented expectations the Federal Reserve will hold rates at elevated levels through year-end — and increasingly, that the next move could be a hike rather than a cut. A much-anticipated diplomatic summit between President Trump and Chinese President Xi Jinping offered little in the way of relief, delivering a joint statement long on principle ... (full story)

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