November 29, 2022

Gold slides 1% as greenback marches forward

business news

business news

Article content material

Gold costs retreated 1% on Thursday because the greenback bounced, whereas latest feedback from U.S. Federal Reserve officers signaled persevering with coverage tightening to tame inflation.

Spot gold fell 0.7% to $1,760.74 per ounce by 12:52 p.m. ET (1752 GMT), after falling to $1,753.6 earlier within the session. U.S. gold futures fell 0.7% to $1,763.10 per ounce.

Article content material

With Fed officers expressing the necessity for an extra slowdown in U.S. inflation, the “market interpreted…

Source link

Leave a Reply

Your email address will not be published. Required fields are marked *