Economy
Gold Prices Fall Below $4,300 Amid US-Iran Talks and Fed Rate Outlook
Livemint1h
THE BRIEF
1
Spot gold fell 1.6% to trade below $4,300 an ounce, dropping to $4,290.54 as investors monitored US-Iran diplomatic progress and Federal Reserve commentary.
2
A gauge of the US dollar rose to its highest level since July, adding downward pressure on bullion alongside concerns over potential further interest rate hikes.
3
Federal Reserve Governor Michael Barr stated that further interest rate increases are likely needed to return inflation back to the central bank's 2% target.