Gold's record rally falters as bulls run into Fed rate expectations, stronger US dollar

From channelnewsasia.com

Expectations for U.S. monetary tightening and a strong dollar have taken some wind out of the "perfect storm" powering an upswing in gold since 2023, leaving prices in vulnerable territory around $4,000 per ounce as the interest rate backdrop unfolds. Gold's reversal has raised questions over the longevity of its record-breaking rally even as geopolitical risk, fiscal deficits and central bank buying continue to support the longer-term case for bullion. After hitting a record $5,595 in January, spot gold has fallen 25 per cent, as the Iran war spurred an oil-price rally and boosted bets on rate hikes. That has curbed ... (full story)