KONTAN.CO.ID - SINGAPORE. Gold prices eased in early Asian hours on Monday, as the market expected more interest rates hikes in the next year by the U.S. Federal Reserve. Spot gold was down 0.1% at $1,791.25 per ounce as of 0010 GMT. U.S. gold futures were little changed at $1,800.70. Fed policymakers may need to lift U.S. borrowing costs above the peak 5.1% they penciled in just this week, and keep them there perhaps into 2024 to squeeze high inflation out of the economy, three of them signaled on Friday.
Gold Inches Lower on Expectations of More Rate Hikes
KONTAN.CO.ID - SINGAPORE. Gold prices eased in early Asian hours on Monday, as the market expected more interest rates hikes in the next year by the U.S. Federal Reserve. Spot gold was down 0.1% at $1,791.25 per ounce as of 0010 GMT. U.S. gold futures were little changed at $1,800.70. Fed policymakers may need to lift U.S. borrowing costs above the peak 5.1% they penciled in just this week, and keep them there perhaps into 2024 to squeeze high inflation out of the economy, three of them signaled on Friday.