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Gold lacklustre as higher-for-longer rate outlook weighs on sentiment
Gold prices eased on Wednesday as investors weighed the prospect of major central banks keeping interest rates elevated for longer in their efforts to curb persistent inflation. Spot gold fell 0.2% to $4,345.55 per ounce, as of 0435 GMT. US gold futures for December delivery were up 0.2% at $4,383.10. The dollar steadied near its strongest level in two months. A firmer dollar makes greenback-priced bullion more expensive for overseas buyers. “Short-term volatility in gold very much depends on how oil trades and the developments that happen in the Middle East. However, long-term structural driv...
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