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Gold slips to 1-week low after Powell strikes hawkish tone
Gold slips to 1-week low after Powell strikes hawkish tone
Although gold is considered a hedge against inflation, interest rate hikes to control rising prices tend to decrease the appetite for zero-yield bullion. Traders of futures tied to the Fed's policy rate have priced in a 50 basis-point rate hike at the U.S. central bank's March 21-22 policy meeting following Powell's remarks.
Although gold is considered a hedge against inflation, interest rate hikes to control rising prices tend to decrease the appetite for zero-yield bullion. Traders of futures tied to the Fed's policy rate have priced in a 50 basis-point rate hike at the U.S. central bank's March 21-22 policy meeting following Powell's remarks.
Although gold is considered a hedge against inflation, interest rate hikes to control rising prices tend to decrease the appetite for zero-yield bullion. Traders of futures tied to the Fed's policy rate have priced in a 50 basis-point rate hike at the U.S. central bank's March 21-22 policy meeting following Powell's remarks. 
