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Gold Treads Water as Potential Fed Rate Hike Looms
Wednesday, 13 June 2018 19:03 WIB | PRECIOUS METALS |GOLDEMAS

Gold prices drifted lower early Wednesday in New York as investors braced for a monetary policy decision from the Federal Reserve later in the session that could ripple through markets.

August gold fell $1.20, or 0.1%, to $1,298.20 an ounce, after settling below a psychologically significant level at $1,300 on Tuesday on the back of a strengthening dollar.

The ICE U.S. Dollar Index a measure of the dollar against a half-dozen major currencies, was flat on Wednesday but up 0.3% thus far this week. A stronger dollar can weigh on demand for assets priced in the currency, making them more expensive to buyers using other monetary units.

Source : Marketwatch

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