Gold closes: Gold closed slightly lower, weighing the impact of the Federal Reserve’s policy of maintaining high interest rates.
Financial World 2023-09-29 05:38:15
According to financial news on September 29, New York gold futures prices closed lower on Thursday. Expectations that the Federal Reserve will maintain high interest rate policies for longer has put pressure on gold futures, which do not provide interest rate yields.
Gold market traders are watching inflation data this week for clues about the outlook for Federal Reserve policy.
Gold futures for December delivery on the New York Mercantile Exchange closed down 0.7% at $1,878.60 an ounce.
Analysts say high interest rate policies reduce demand for gold as an inflation hedge and could push gold prices down to $1,800 an ounce.
U.S. Treasury yields climbed to a 16-year high on Thursday, further increasing the opportunity cost of holding gold, a non-yielding asset.
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2023-09-28 21:38:15
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