Gold down a second session, holds ground at lowest since September


Gold futures posted a loss for a second straight session on Tuesday, holding ground at their lowest finish since late September of last year. “The precious metal has been smothered by an appreciating dollar and expectations over the [Federal Reserve] maintaining an aggressive stance towards higher interest rates,” said Lukman Otunuga, manager, market analysis at FXTM. “The precious metal looks depressed and could be in store for more pain if the pending U.S. CPI report meets or exceeds market expectations” when it’s released Wednesday, he said. August gold GCQ22, -0.40% fell $6.90, or 0.4%, to settle at $1,724.80 an ounce. Prices based on the most-active contract settled at the lowest since Sept. 29, 2021, FactSet data show.

This article was originally published by Read the original article here.

Previous articleKey Words: Why is crypto crashing? Mark Cuban says ‘crypto is going through the lull that the internet went through’
Next articleU.S. airstrike kills leader of Islamic State extremist group in Syria


Please enter your comment!
Please enter your name here