Gold Holds Steady as Fed Rate Hike Bets Offset Weaker Dollar
Gold prices remain under pressure from hawkish Federal Reserve expectations, though a softer US dollar limits further losses. Key US economic data this week could provide the next directional catalyst.
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Gold is trading cautiously at the start of a data-heavy week, with markets fixated on the Federal Reserve’s interest rate path. Expectations for higher-for-longer US rates continue to weigh on the non-yielding metal.
The US Dollar has lost some ground, helping gold to avoid deeper declines. Investors are now eyeing a series of major US economic releases that could sway rate expectations and inject fresh volatility into bullion prices.
Source: FXStreet Forex News