Gold languishes near 2-month low amid US debt deal optimism
Gold prices remain steady, hovering near a two-month low due to the optimism surrounding the US debt ceiling deal and a strong dollar. Spot gold is flat at $1,942.16 per ounce, while US gold futures fall 0.1% to $1,941.80. The dollar index’s firm status has made bullion less attractive for holders of other currencies. Investors are now waiting for the passage of the debt ceiling deal before June 5. The hawkish outlook of the US Federal Reserve has offset safe-haven flows around the debt ceiling situation as higher interest rates dull the appeal of zero-yield bullion.
Gold prices remain steady, hovering near a two-month low due to the optimism surrounding the US debt ceiling deal and a strong dollar. Spot gold is flat at $1,942.16 per ounce, while US gold futures fall 0.1% to $1,941.80. The dollar index’s firm status has made bullion less attractive for holders of other currencies. Investors are now waiting for the passage of the debt ceiling deal before June 5. The hawkish outlook of the US Federal Reserve has offset safe-haven flows around the debt ceiling situation as higher interest rates dull the appeal of zero-yield bullion.
