Commodities
Gold Price Today: Third Straight Weekly Decline Looms Amid Rate Hike Expectations
The gold price today is headed for its third consecutive weekly decline as expectations of a U.S. interest rate hike continue to build.
Spot gold was trading at $4,324.79 per ounce, up 0.2 percent on the day but still down more than 2 percent for the week so far.
The strengthening of rate hike expectations has reduced the relative appeal of non-yielding assets like gold, outweighing the usual safe-haven demand that typically accompanies periods of oil-driven inflation risk and equity market weakness.