Gold Wilts With August Rate Heat From Federal Reserve: ChartBy
One of the year’s best-performing commodities just had its worst August in a long time. Gold futures fell this month for the first August decline since 2009, and demand for bullion through exchange-traded products slowed as Federal Reserve officials signaled they may be moving closer to raising U.S. interest rates this year. Purchases of gold-backed ETPs fell to the lowest since April, when there were outflows, as the prospect of tighter monetary policy curbs the appeal of the metal because it doesn’t pay interest.
To continue reading this article you must be a Bloomberg Professional Service Subscriber.
If you believe that you may have received this message in error please let us know.