Gold set for worst month in more than 17 years as US rate-cut hopes fade
Gold prices rose on Tuesday on hopes of de-escalation in the Middle East conflict, but were poised for their worst month in more than 17 years as higher energy prices dimmed hopes for a U.S. interest rate cut this year.
Spot gold was up 1.1% at $4,561.68 per ounce, as of 0427 GMT. U.S. gold futures for April delivery gained 0.7% to $4,590.
The dollar eased, making greenback-denominated commodities more affordable for holders of other currencies.
Spot silver rose 2.9% to $72.04 per ounce, spot platinum gained 0.6% to $1,911.15, and palladium was up 2% at $1,434.23.
Reuters
Gold prices rose on Tuesday on hopes of de-escalation in the Middle East conflict, but were poised for their worst month in more than 17 years as higher energy prices dimmed hopes for a U.S. interest rate cut this year.
Spot gold was up 1.1% at $4,561.68 per ounce, as of 0427 GMT. U.S. gold futures for April delivery gained 0.7% to $4,590.
The dollar eased, making greenback-denominated commodities more affordable for holders of other currencies.
Spot silver rose 2.9% to $72.04 per ounce, spot platinum gained 0.6% to $1,911.15, and palladium was up 2% at $1,434.23.
Reuters
Gold prices rose on Tuesday on hopes of de-escalation in the Middle East conflict, but were poised for their worst month in more than 17 years as higher energy prices dimmed hopes for a U.S. interest rate cut this year.
Spot gold was up 1.1% at $4,561.68 per ounce, as of 0427 GMT. U.S. gold futures for April delivery gained 0.7% to $4,590.
The dollar eased, making greenback-denominated commodities more affordable for holders of other currencies.
Spot silver rose 2.9% to $72.04 per ounce, spot platinum gained 0.6% to $1,911.15, and palladium was up 2% at $1,434.23.
Reuters
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Gold set for worst month in more than 17 years as US rate-cut hopes fade
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