Commodities
Gold Prices Stable Amid Fed Tightening Bets and Oil Price Decline
Gold prices were relatively stable on Thursday at $4,291.48 per ounce, as investors grappled with market expectations of further Federal Reserve policy tightening and a decline in oil prices.
The US Federal Reserve's decision to raise interest rates last week has put pressure on gold, which is often seen as an inflation hedge but tends to lose appeal when interest rates rise.
According to Ross Maxwell, chief strategy officer at VT Markets, 'A clearer signal of another rate hike would pressure gold lower.'