Forex
Gold Prices Stable Amid Fed Tightening Bets and Oil Decline
Gold prices remained relatively stable on Thursday, as investors weighed the potential for further Federal Reserve policy tightening against a decline in oil prices.
The spot price of gold was little changed at $4,291.48 per ounce by 0512 GMT, while US gold futures for December delivery rose 0.2% to $4,326.30.
According to Ross Maxwell, chief strategy officer at VT Markets, investors are currently focused on the Fed's higher-for-longer stance following last week's rate increase, fluctuations in the US dollar and Treasury yields, and Middle East developments related to oil and energy supply risks.
A clearer signal of another rate hike would pressure gold lower, Maxwell said.