Gold heads for biggest monthly drop in more than 17 years - Reuters
Gold heads for biggest monthly drop in more than 17 years Reuters
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Notable Quotes
"Gold prices are bouncing in early Asia-Pacific trade after US President Donald Trump told aides he is willing to end the US military campaign against Iran… That triggered a risk-on response from financial markets."
— Ilya Spivak , Influencer
"Gold has been stabilizing for about a week now, with a rally last Friday a particular standout. That came alongside a drop in Treasury yields that seems to suggest the markets are starting to see the Iran war as a recession risk."
— Ilya Spivak , Influencer
"Gold has been stabilising for about a week now, with a rally last Friday a particular standout. That came alongside a drop in Treasury yields that seems to suggest the markets are starting to see the Iran war as a recession risk."
— Ilya Spivak , Influencer
"I am willing to end the military campaign against Iran."
— Donald Trump , Politician
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<a href="https://news.google.com/rss/articles/CBMirwFBVV95cUxOdXJQMkZkZEFnekZ5cEo1c1djYzhTb0xvZ2hLdmZQNEJJS1VaLWJlNW9EeGxQU2VHd1pjTEJvSmg3YUllMUJ1TDRvTXRtODVzVnRITnpzaXM5bEpRdjdsMW5uSU41TUpLSGV4M2ppal95WW9PS1ZLLVU2aHV6ZWxzak5qem9OejBLZmhhMHpxMW5Gb0E4T29VdnZHOG5hckViWjNuY1BMZDhyQ09OOVBZ?oc=5" target="_blank">Gold heads for biggest monthly drop in more than 17 years</a> <font color="#6f6f6f">Reuters</font>
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 US interest rate cut this year.
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 US interest rate cut this year.
Gold prices were slightly higher on Monday, helped by some tempering of rate hike expectations and fueled by a bout of bargain-hunting as the yellow metal heads for its biggest monthly drop in almost twenty years.
The Central Bank of Turkey sold 58 tons of gold worth over $8 billion in just two weeks, making it the single largest source of gold selling worldwide during that period.
Gold prices fell approximately 17% from their peak, marking the worst monthly drop in years. The sell-off is driven by shifting Fed rate expectations, a strong dollar, and central bank signals.
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