Gold Declines as Traders Consider Odds for Later Fed Rate Cuts
The precious metal is up about 15% so far this year.
Photographer: Anindito Mukherjee/BloombergThis article is for subscribers only.
Gold declined as traders assessed the Federal Reserve’s indication that it will likely keep rates on hold for longer than originally planned.
Bullion had remained steady early Wednesday before falling as much as 0.9% in the afternoon. The intraday turnaround isn’t uncommon for the precious metal as daily trading activity has become volatile with prices hitting a series of new peaks in recent weeks.