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Gold slips as oil rally fans rate hike bets ahead of Fed meeting
Gold prices eased on Monday as a surge in oil prices stoked inflation concerns, boosting expectations that the US Federal Reserve may raise interest rates at its policy meeting this week. Spot gold slipped 0.3% to $4,334.31 per ounce by 0330 GMT after posting a third consecutive weekly decline on Friday. US gold futures dropped 0.8% to $4,375.00. “Gold isn’t finding conditions to its liking. Rising energy prices plus climbing rate expectations ahead of the Fed and BoJ meetings are delivering a clear yield headwind for gold,” said Tim Waterer, chief market analyst at KCM Trade. “In the meantime...
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