Metal under pressure from likely interest rate hike and stronger dollar
Bengaluru — Gold prices dropped on Tuesday towards their lowest since mid-February hit in the previous session, as an imminent interest rate hike by the US Federal Reserve and a stronger dollar dulled bullion’s appeal.“Gold will come under pressure directly from higher interest rates and also indirectly from a stronger US dollar,” said Michael McCarthy, chief strategy officer at Tiger Brokers, Australia.
The dollar remained near recent 20-year highs, making gold less attractive for overseas buyers, while benchmark 10-year treasury yields on Monday hit 3% for the first time since December 2018, a key psychological milestone.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
This fintech start-up aims to make it easier to own goldFintech start-up Troygold aims to remove the hurdles to gold ownership — and to introduce a measure of liquidity to the asset that is lacking at present.
Read more »
US 10-year Treasury yield hits 3% for first time since 2018US stocks fall ahead of Federal Reserve meeting this week
Read more »
US 10-year Treasury yield hits 3% for first time since 2018US stocks fall ahead of Federal Reserve meeting this week
Read more »
Villarreal seek perfection to beat near flawless LiverpoolSpanish side have to overcome a two-goal deficit as Reds eye a clean sweep of trophies
Read more »
Injured Osaka exits Madrid Open but Raducanu marches onAn injured Naomi Osaka made a second-round exit from the Madrid Open on Sunday, falling 6-3, 6-1 to home favourite Sara Sorribes Tormo.
Read more »