Gold Declines Despite Easing Inflation and Rate Hike Concerns
Gold price pulls back to around $4,050 per ounce in Asian trading, reversing previous gains even as worries over inflation and rate hikes ease.
XAUUSD
Gold edged lower during Asian hours on Thursday, giving up the prior day’s advance to trade near $4,050 per troy ounce.
The decline came despite a recent softening in concerns over inflation and the pace of interest rate hikes, which often support the non-yielding metal.
XAU/USD’s move below the previous session’s close suggests a short-term shift in sentiment, though market watchers will look for further cues on monetary policy direction.
Source: FXStreet Forex News