Gold Slumps as Markets See Hawkish Fedspeak at US Rate Meeting
Bullion has also seen some support in recent days from a weaker US dollar.
Photographer: Chalinee Thirasupa/BloombergThis article is for subscribers only.
Gold slid — narrowing what is set to be a third straight monthly gain — as investor focus turned to this week’s US Federal Reserve meeting at which policymakers are expected to strike a hawkish tone on interest rates.
Bullion edged down to trade below $2,300 an ounce ahead of the Federal Open Market Committee decision on Wednesday. Traders are bracing for the possibility that central bankers may be forced to backtrack from previous hints of swifter rate cuts. For the month, gold still is up almost 3%.