Gold pressured by hawkish Fed, strong dollar – UOB
UOB Global Economics & Markets Research notes that gold softened as hawkish Federal Reserve signals and a firmer US Dollar weighed on prices. An interim US–Iran ceasefire reduced inflation fears and pulled oil lower, further curbing gold's appeal as an inflation hedge.
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UOB Global Economics & Markets Research reported that gold prices eased under pressure from hawkish Federal Reserve commentary and a strengthening US Dollar.
The bank also cited an interim US–Iran ceasefire, which reduced near-term inflation concerns and contributed to softer oil prices. This further diminished gold's attractiveness as an inflation-hedging asset.
Source: FXStreet Forex News