Gold consolidates near $4400 after Friday's 3.2% drop on Fed hawkishness
Gold is consolidating near $4400 on Monday, a day after suffering its largest single-day loss in more than two months following hawkish remarks from Fed Chair Warsh.
Gold Market
Tagged: dollar
Gold drops over 2.5% after Warsh strikes hawkish tone at Jackson Hole
Gold prices dropped more than 2.5% on Friday after Federal Reserve Chair Kevin Warsh delivered hawkish remarks at Jackson Hole. A rising US dollar and higher Treasury yields pushed the yellow metal lower.
Gold and silver rise on softer oil, weaker dollar, Jackson Hole focus
Gold and silver opened higher on the MCX on Thursday, supported by falling oil prices and a softer dollar, as traders look ahead to Fed Chair Kevin Warsh's Jackson Hole speech.
Gold heads for third weekly gain as dollar softens
Spot gold rose 0.5% to $4,540.18 on Friday and has gained 3.6% this week, helped by a softer dollar and Treasury buyback plans.
Gold nears $4,400 after weak US retail data hits the dollar
Gold climbed to within striking distance of $4,400 an ounce as weaker US retail sales and consumer sentiment data dragged the dollar lower, making bullion cheaper for overseas buyers.
Gold edges higher as dollar softens and rate hike bets fade
Gold prices edged higher in early Asian trading on Monday, supported by a softer dollar and diminished expectations of a US interest rate hike in September.