Expectations that the Federal Reserve might push interest rates even higher have weighed on the yellow metal while boosting Treasury yields and the U.S. dollar
Gold prices traded marginally lower on Monday after falling for a second-straight week as expectations that the Federal Reserve might push interest rates even higher have weighed on the yellow metal while boosting Treasury yields and the U.S. dollar.
But... Gold prices traded marginally lower on Monday after falling for a second-straight week as expectations that the Federal Reserve might push interest rates even higher have weighed on the yellow metal while boosting Treasury yields and the U.S. dollar. But the rally, which also benefited prices of other precious metals like silver, came to a halt earlier this month as robust January economic data, including the Department of Labor’s monthly report on the U.S. labor market and the ISM survey on services-sector activity, spurred a recalibration of interest-rate expectations.
Fed policymakers, including Fed Chairman Jerome Powell, have contributed to these expectations by insisting that rates still have further to rise, and that the central bank still has a ways to go in its battle against inflation.
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