KONTAN.CO.ID - LONDON. Gold eased on Monday, hovering near a two-week low, weighed down by a firmer dollar and expectations that rising inflation might push the Federal Reserve to accelerate its monetary policy tightening. Spot gold fell 0.2% to $1,841.20 per ounce by 1224 GMT, after hitting its lowest since Nov. 10 at $1,836.00. U.S. gold futures eased 0.6% to $1,841.30. "Gold has support from a surge in inflation ... but the market is slightly worried about how the Fed will deal with it and if they will step up their efforts, and that could be a short term drag on gold," said Saxo Bank analyst Ole Hansen.
Gold pressured by stronger dollar, faster Fed taper bets
KONTAN.CO.ID - LONDON. Gold eased on Monday, hovering near a two-week low, weighed down by a firmer dollar and expectations that rising inflation might push the Federal Reserve to accelerate its monetary policy tightening. Spot gold fell 0.2% to $1,841.20 per ounce by 1224 GMT, after hitting its lowest since Nov. 10 at $1,836.00. U.S. gold futures eased 0.6% to $1,841.30. "Gold has support from a surge in inflation ... but the market is slightly worried about how the Fed will deal with it and if they will step up their efforts, and that could be a short term drag on gold," said Saxo Bank analyst Ole Hansen.