Gold Falls Toward $4,000 on Strong USD, Fed Expectations
Gold has retreated toward $4,000 per ounce amid a broad market sell-off, pressured by a stronger US dollar and expectations of higher-for-longer Federal Reserve policy, according to ING analysts.
ING analysts Warren Patterson and Ewa Manthey note that gold prices have fallen to near $4,000 per ounce, tracking a broader risk-off move in financial markets. The decline is attributed to a strengthening US dollar and growing expectations that the Federal Reserve will maintain higher interest rates for an extended period.
Silver also slumped in the same session, though specific levels were not detailed. The precious metals complex remains vulnerable to further downside as long as dollar strength and hawkish Fed bets persist.
Source: FXStreet Forex News