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Gold Prices Sink as Rate Cut Hopes Crash
Gold prices fell on Tuesday morning as traders remained concerned that the U.S. Federal Reserve would not cut interest rates this month as originally expected. Falling expectations for the interest rate cut have already sent markets into a tailspin, with Asian markets falling on Monday and continuing their downward trend into Tuesday morning; gold prices are just one more casualty in the ongoing interest rate drama. Gold futures were down 0.36 percent to $1,395.00 as of 10:08 a.m. HK/SIN. There was no economic data released on Monday, though according to new reports published by Sharps Pixley of London, new data ... (full story)
