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Commodities

Gold Prices Slip Amid Rising Rate Hike Expectations

Guavy AI Editorial Team
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Gold
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Gold prices fell by 0.4% to $4,428.54 an ounce on Tuesday as bets for another Federal Reserve rate hike rose.

Rising expectations of a rate increase have put pressure on the bullion market despite persistent geopolitical risks and a relatively stable U.S. dollar.

Fed Chair Kevin Warsh's comments about further tightening to address inflationary forces have contributed to the increased probability of a rate hike in September, with 66% odds currently priced in, rising to 89% by December.

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