Commodities
Gold Prices Unfazed by Rate Hike Worries
Gold prices remained steady in early Asian trading on Thursday as investors assessed the likelihood of another interest rate hike by the US Federal Reserve this year.
The spot gold price held at $4,285.31 per ounce as of 00:22 GMT, while US gold futures for December delivery also remained unchanged at $4,321.40.
US Treasury bond prices fell on Wednesday, causing yields to surge sharply following a stronger-than-expected purchasing managers' index (PMI) report.
Rising inflationary pressures and economic recovery appear to be bolstering the case for another Federal Reserve rate hike ahead of the crucial midterm elections.