Gold Slips Below $4,000 as Oil Strength Fuels Fed Rate-Hike Bets
Gold traded near $3,995 in early Asian hours on Monday, pressured by higher energy prices and inflation worries before the Federal Reserve’s next policy decision.
Spot gold came under renewed selling pressure at the start of the week, falling below the $4,000 level to around $3,995 in early Asian trading.
Elevated oil prices have reinforced inflation concerns, adding to expectations that the Federal Reserve may maintain a more hawkish policy stance. That backdrop has weighed on the non-yielding precious metal, leaving it near its lowest levels since July.
Traders are watching the Fed’s next policy decision for further guidance on rates and inflation risks.
Source: FXStreet Forex News
