Gold prices fluctuate amid US economic data and banking concerns.
TL;DR
Gold prices fell by 0.3% to $1,983.29 per ounce as the US dollar rose following better-than-expected US manufacturing data, while investors await the Federal Reserve's rate hike decision this week. The Federal Open Market Committee (FOMC) is expected to raise interest rates by 25 basis points, and investors will focus on Fed Chair Jerome Powell's press conference to assess if the commentary pushes back market expectations of rate cuts before the year-end.
- Gold gives up gains as robust US data counters banking woes Reuters
- Gold price drops below $2000 as U.S. manufacturing sector contracts for sixth month in a row but but beats expectations Kitco NEWS
- Gold Prices Turn Lower as US Economic Data Weakens Case for Fed Pause DailyFX
- Gold reserves build-up The Financial Express
- Gold Price Forecast – Gold Markets Recover After Initial Selloff FX Empire
Want the full story? Read the original reporting
Read on Reuters