Gold dips on expectations of further Fed rate hikes
Gold prices moved lower on Tuesday as markets factored in more restrictive monetary policy from the Federal Reserve. Traders priced in a high chance of a rate hike in December following comments from central bank officials.
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Gold prices fell 0.2% to $4,336.21 per ounce on Tuesday afternoon as markets priced in tighter monetary policy. The decline reflects shifting rate expectations in the United States. Higher borrowing costs continue to pressure non-yielding bullion.
