Gold Slips Below $4,100 as USD Strengthens on Fed Rate-Hike Expectations
Gold prices edged lower on Friday, breaking a two-day winning streak, as the U.S. dollar recovered on bets that the Federal Reserve will keep raising rates. The move came despite simmering geopolitical tensions.
XAUUSD
Spot gold (XAU/USD) struggled to hold gains above $4,100 during Asian trading on Friday, slipping lower after two consecutive sessions of advances. The decline came as the US dollar recovered on growing expectations that the Federal Reserve will continue to raise interest rates.
The move snapped a two-day winning streak and highlighted the precious metal’s sensitivity to monetary policy outlook, even as geopolitical tensions provided some underlying support.
Source: FXStreet Forex News