Drop extends sell-off that left the market with its worst week in five months
Bengaluru — Gold eased on Monday, extending a sell-off that left the market with its worst week in five months as caution crept in ahead of the release of US Federal Reserve minutes later this week.Gold fell 4.5% last week in its biggest decline since March as investors reassessed their positions after bullion retreated from a record peak of $2,072.50 scaled on August 7.
Investors are now awaiting the release of the minutes from the Federal Reserve’s most recent policy meeting for any hints of a possible change to the central bank’s guidance at its next review in September.“The minutes document might suggest that the Fed is not in a hurry to expand the monetary support toolkit for now,” said DailyFx currency strategist Ilya Spivak.
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