Gold costs fall over the vacation season, pressured by a stronger US greenback and better Treasury yields amid uncertainty over the rate of interest outlook for the 12 months subsequent.
Futures are down 0.7% at $2,627.40 a troy ounce, whereas the greenback index is up 0.5% towards a basket of different currencies.
The market remains to be digesting final week’s Federal Reserve assembly and alerts of fewer charge cuts subsequent 12 months. Individually, the most recent U.S. knowledge confirmed Monday that shopper confidence, a key spending barometer, fell unexpectedly this month.
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