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Gold prices continued to trade lower on Friday as the dollar held near its 20-year peak. Also, the US Fed’s ultra-hawkish monetary policy outcome of more aggressive interest rate hikes going forward also weighed on the bullion’s appeal. Higher interest rates in the economy tend to dent the appeal of the non-interest-yielding yellow metal.
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Gold Prices Today: Sustained upside for yellow metal unlikely until dollar corrects significantly, trend to stay negative.
Gold was trading flat in India and other markets on September 22 morning as the dollar held close to its recent peak while the likelihood of more aggressive interest rate hikes by the US Federal Reserve also weighed on the appeal for non-yielding bullion.
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