Key Points
(Reuters) -Gold prices traded near their weakest levels in more than a month on Wednesday, beaten down by an assurgent U.S. dollar as markets made adjustments to a rising interest rate scenario...
Spot gold was subdued at $1,899.98 per ounce by 0250 GMT, after breaching a key $1,900 threshold and hitting its lowest level since Aug. 23 on Tuesday..
The dollar stood strong at a 10-month high against its major peers as Treasury yields stayed elevated on the prospect of higher-for-longer U.S. rates..
It may have to take a series of data ahead, more notably the upcoming inflation and job report, to provide some justification that the Fed may not follow through with its last rate hike and have more policy flexibility for rate cuts if needed...
U.S. consumer confidence dropped to a four-month low in September, weighed down by persistent worries about higher prices and rising fears of a recession...
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