KONTAN.CO.ID - LONDON. Gold fell on Thursday, dragging other precious metals along, as the dollar scaled a fresh two-decade on renewed expectations the Federal Reserve would stick to its aggressive rate-hike roadmap. Spot gold fell 0.3% to $1,846.56 per ounce by 1244 GMT. U.S. gold futures were down 0.5% at $1,844.30. "Gold again has failed to garner momentum to the upside, despite pretty epic issues in the global economy, like multi-decade high inflation... What seems to be weighing on gold though in particular is the dollar," independent analyst Ross Norman said.
Gold, Other Metals Retreat as Dollar Soars
KONTAN.CO.ID - LONDON. Gold fell on Thursday, dragging other precious metals along, as the dollar scaled a fresh two-decade on renewed expectations the Federal Reserve would stick to its aggressive rate-hike roadmap. Spot gold fell 0.3% to $1,846.56 per ounce by 1244 GMT. U.S. gold futures were down 0.5% at $1,844.30. "Gold again has failed to garner momentum to the upside, despite pretty epic issues in the global economy, like multi-decade high inflation... What seems to be weighing on gold though in particular is the dollar," independent analyst Ross Norman said.