Key Points
(Reuters) Gold prices on Thursday hovered close to a three-month low hit in the previous session on renewed talks of interest rate hikes by the U.S. Federal Reserve, but a softer dollar limited losses in bullion...
U.S. gold futures fell 0.2% to $1,941.30...
Fed Chair Jerome Powell in his remarks to lawmakers on Wednesday said further rate increases are a pretty good guess of where the U.S. central bank is heading if the economy continues in its current direction...
While higher interest rates dull the appeal for zero-yield bullion, Edward Meir, a metals analyst at Marex said that the market still believes the central bank is very close to finishing their rate hikes, and thats why gold hasnt really done all that much...
Traders now await weekly U.S. initial jobless claims data at 1230 GMT, an important indicator of the U.S. economy, and the Bank of Englands rate decision after inflation data came in higher than expected again, with investors split on just how big the new hike will be...
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