Gold dips as markets assess rate-hike remarks, debt-ceiling debate
Gold prices dipped in early Asian trading as investors assessed statements from US central bank officials indicating that interest rates will remain high given potential inflation and a weak economy. Atlanta Fed President Raphael Bostic announced his inclination to keep interest rates unchanged at the next meeting. Meanwhile, the debt-ceiling debate progresses, with the US Treasury Department anticipating payment of the government’s bills until 1 June without a debt limit increase. Market volatility exacerbates interpretation of the New York Federal Reserve’s plunging May manufacturing activity survey.
Gold prices dipped in early Asian trading as investors assessed statements from US central bank officials indicating that interest rates will remain high given potential inflation and a weak economy. Atlanta Fed President Raphael Bostic announced his inclination to keep interest rates unchanged at the next meeting. Meanwhile, the debt-ceiling debate progresses, with the US Treasury Department anticipating payment of the government’s bills until 1 June without a debt limit increase. Market volatility exacerbates interpretation of the New York Federal Reserve’s plunging May manufacturing activity survey.
