Gold futures end lower after back-to-back session gains


Gold futures finished lower on Monday, with prices easing after posting back-to-back session gains. Precious metals investors are now looking forward to the conclusion of the two-day Federal Reserve meeting on Wednesday, where the U.S. central bank is highly likely to hike rates by another 75 basis points to bring the Fed Fund rate to 2.50%, said Fawad Razaqzada, market analyst at City Index and “Given the weakness we have seen in the dollar and yields last week, it looks like this is already priced in,” he said. Unless the Fed hikes by 100 basis points, “there is a possibility we will see further weakness in the dollar, and gains for gold.” On Monday, August gold GCQ22, -0.63% fell $8.30, or 0.5%, to settle at $1,719.10 an ounce.

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

Previous articleThe Fed: Four things you will want to listen for at Wednesday’s Federal Reserve meeting
Next articleThese 20 stocks still have at least a 48% upside even after the S&P’s 8% rally


Please enter your comment!
Please enter your name here