Commodities
Gold Prices Slide on Fed Rate Hike Expectations
Gold prices are continuing to fall on expectations of US Federal Reserve interest rate hikes. As of September 16, spot gold prices decreased by 0.32% to $4,279.5 per ounce.
The decline in gold prices is being driven by macroeconomic factors and investor bets on the Fed raising interest rates by another 0.25 percentage points.
Technically, gold prices have retreated to their lowest level in about six weeks and are trading below the resistance zone of $4,316-$4,355 per ounce.