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Hedge Against Inflation? Spot Gold Hits One-Week Low As Hot US Inflation Drives Fed Hike Bets
Source: NDTV Profit (Feedburner) · 5 hr ago
Summary
Gold prices dropped more than 1% to their lowest level in a week after U.S. inflation came in hotter than expected, prompting stronger expectations that the Federal Reserve will raise interest rates. The higher inflation outlook lifted the U.S. dollar and Treasury yields, which in turn reduced demand for gold, an asset that does not generate income.
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From the original report
Gold fell over 1% to a one-week low as hotter-than-expected US inflation boosted Federal Reserve rate hike bets, lifting the dollar and Treasury yields and weighing on non-yielding bullion.
Excerpt from NDTV Profit (Feedburner).
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