Gold Traders Are ‘Jaded’ to Global Fears Ahead of Expected Fed Hike
- Bullion has fallen about 9% since one-year high in September
- Traders have priced in a 100% chance of rate hike this week
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In the face of a rapidly changing world, gold investors appear to be focusing more on the strength of the global economy and are becoming less sensitive to turmoil.
Bullion fell for a fourth session, the longest losing streak in six months, as investors wager the Federal Reserve will raise U.S. interest rates this week amid improving economic data and rising inflation. That’s overshadowed geopolitical concerns and the news of a terrorist attack in New York Monday, mitigating gold’s appeal as a haven.