Gold prices wallow under $1,900 as Fed fears buoy dollar, yields
Gold prices were now set for an over 3% slump in September, their worst monthly performance since February.
Higher interest rates bode poorly for the yellow metal, given that they push up the opportunity cost of investing in non-yielding assets. This trend had battered gold through 2022, and has also limited the yellow metal’s gains this year. Gold also has little scope for recovery, with U.S. rates set to remain above 5% until at least end-2024.Among industrial metals, copper prices fell further on Thursday, amid fears that higher interest rates will dent economic activity in the coming months.fell 0.4% to $3.6292 a pound, and were close to their weakest levels since mid-March.
Concerns over an economic slowdown in top importer China also weighed on copper, as media reports outlined more government scrutiny against embattled property developer China
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