Gold faces headwinds as hawkish Fed, rising yields pale optimism

Date:

September 24, 2023

The FOMC meeting’s tone was more hawkish than anticipated, resulting in the strengthening of the US dollar to a six-month high and a rise in US 10-year treasury yields to 4.5%, the highest level since 2007. These factors weighed down on gold, which is a non-yielding asset.

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