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Gold Wavers as Traders Weigh Outlook for Fed Tightening Path

  • Goldman’s Hatzius sees scope for slowing pace of rate hikes
  • Bullion snapped six straight days of declines on Tuesday
Updated on

Gold fluctuated as investors weighed the outlook for the Federal Reserve’s monetary policy tightening path after data continued to give a mixed picture of the US economy.

Investors are assessing how aggressively the Fed can continue hiking rates in the face of mounting risks to growth. Economic activity weakened from the US to Europe and Asia, reinforcing concerns that soaring prices and Russia’s war in Ukraine will tip the world into a recession. Those concerns helped bullion snap six straight days of declines on Tuesday.