Gold dips near two-week low on rate hike bets
Gold prices fell toward a two-week low as investors weighed rising interest rate expectations following hawkish comments from Federal Reserve Chair Kevin Warsh. Higher crude prices and a stronger dollar also pressured bullion, though it remained set for a strong monthly gain.
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Gold fell 0.4% to $4,433.19 per ounce during Monday afternoon trade, hovering near a two-week low on rising rate-hike expectations. The drop follows hawkish remarks from Federal Reserve leadership and mounting energy inflation pressures. Despite the daily decline, the precious metal remains on track for a 9.7% monthly gain.
