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Gold slips as de-escalation hopes ease inflation and rate-hike fears
Gold was last seen around $4,050 per troy ounce in Asian trading Tuesday as traders shifted attention to the Federal Reserve decision this week.
Gold prices eased after the previous session’s gains, trading around $4,050 per troy ounce during Asian hours Tuesday, according to FXStreet.
FXStreet linked the move to lower oil prices and reduced market concern about rising inflation and additional interest-rate hikes after US President Donald Trump said the US is having “good talks” with Iran to resolve the Middle East conflict.
The report also noted that Trump cautioned the US remains ready to resume military strikes if negotiations fail, after the US suspended attacks late Friday following nearly two weeks of hostilities and Iran halted retaliatory strikes against US bases in neighboring countries.
Meanwhile, traders are looking ahead to the Federal Reserve’s policy decision this week, where officials are widely expected to hold interest rates, with only a minority of traders leaning toward an immediate hike, FXStreet said.
Latest closeGold $4,078.90 ▲0.3%