Gold eases after ECB rate hike, traders brace for Fed decision
TL;DR Summary
Gold edged lower after the ECB raised rates by 25 basis points, with spot around €3,760/oz and $4,367/oz, as selling pressure remained limited while traders await the Fed decision next week; the ECB projected inflation above target and outlined growth forecasts, and markets priced in about a 64% chance of a Sept. 16 Fed rate hike.
- Gold price down but weathering ECB's 25 basis point rate hike KITCO
- European Central Bank hikes interest rates to 2.5% as policymakers see risk of higher inflation, weaker growth CNBC
- European Central Bank Raises Rates in Bid to Quell Inflation The New York Times
- The ECB Just Raised Interest Rates. Here’s What to Know. WSJ
- Monetary policy decisions European Central Bank
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