Gold price bound for worst quarter in five, pressured by central banks’ hawkish rhetoric. gold markets metals
Meanwhile, the dollar index hovered near its recent two-decade peak, and is bound for its best quarter in over seven years, making gold more expensive for overseas buyers.
“The data initially gave traders the idea that since inflation wasn’t any worse than last month, maybe the Fed won’t be so aggressive, helping gold. However, the market is still firmly bearish and speculative sellers jumped in to push prices down,” added Wycoff.
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