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Gold muted as higher-for-longer rate outlook weighs
Gold prices struggled for momentum on Tuesday as expectations of interest rates staying higher for longer weighed on sentiment, with investors awaiting comments from US Federal Reserve officials for policy clues. Spot gold was little changed at $4,344.29 per ounce, as of 0151 GMT. US gold futures steadied at $4,381.80. Bullion is traditionally viewed as a hedge against inflation and geopolitical risks, but its appeal tends to wane in a high-interest-rate environment as investors favour yield-bearing assets. With US economic data limited this week, investors will focus on comments from Fe...
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