Gold hits over 3-week low on strong dollar, Fed rate-hike worries

​​​The U.S. central bank needs to keep raising borrowing costs to bring high inflation under control, a string of its officials said last week. Gold is highly sensitive to rising U.S. interest rates, as these increase the opportunity cost of holding non-yielding bullion. Focus this week will be on comments by Fed Chair Jerome Powell when he addresses an annual global central banking conference in Jackson Hole, Wyoming, on Friday.

Gold hits over 3-week low on strong dollar, Fed rate-hike worries
​​​The U.S. central bank needs to keep raising borrowing costs to bring high inflation under control, a string of its officials said last week. Gold is highly sensitive to rising U.S. interest rates, as these increase the opportunity cost of holding non-yielding bullion. Focus this week will be on comments by Fed Chair Jerome Powell when he addresses an annual global central banking conference in Jackson Hole, Wyoming, on Friday.