Gold Pulls Back from June 5 High as Fed Rate-Hike Bets Lift Dollar
Gold retreated from its strongest level since June 5 on Thursday, trading near the lower end of its daily range as oil-driven Federal Reserve rate-hike expectations supported the US dollar.
XAUUSD
Gold (XAU/USD) touched a fresh high since June 5 near the $4,450 area during the Asian session before losing ground. The metal was last trading near the lower end of its daily range.
The pullback came as oil-driven expectations for further Federal Reserve rate hikes underpinned the US dollar, adding pressure on dollar-denominated gold.
Source: FXStreet Forex News