Commodities
Rate Hike Looms: Gold Price Predicted to Drop with Fed Interest Rate Increase
Markets are anticipating a rate hike by the Federal Reserve this week, which could put pressure on the global gold price. The predicted increase of 0.25% in interest rates is expected to cause the gold price to drop by as much as $100 an ounce.
Kritcharat, a market analyst, says that another rate hike in December is also possible.
The impact of the rate hike on the gold price could be significant, with some analysts predicting it will drop to around $52 per ounce.