Gold is heading for its third consecutive weekly loss as a stronger US dollar and hawkish signals from the Federal Reserve overshadow optimism from the recent US-Iran peace deal. Both spot prices and the contract on COMEX slipped below $4,190 per ounce on Friday, with traders bracing for tighter monetary policy under new Fed Chair Kevin Warsh. Gold has struggled to hold ground despite easing geopolitical tensions, as the Fed’s stance has shifted market expectations toward higher rates later this year. Fed’s hawkish stance dominates sentiment At his first policy meeting, Warsh underscored the Fed’s determination to keep inflation under control, even as oil prices fell following the interim ceasefire between Washington and Tehran. While the central bank left rates...
Gold likely to extend losses as Fed hawkish stance dominates
