News > Gold pares gains as US dollar strengthens, rate-hike fear dominates mood
Gold pares gains as US dollar strengthens, rate-hike fear dominates mood
Topologypro | 07/09/2022 08:37 AM | Click to read full article
Gold prices pared gains on Tuesday under pressure from concerns about rapid interest rate hikes to tame inflation and an overall stronger U.S. dollar. Spot gold was up 0.1% at $1,712.09 per ounce as of 1018 GMT.
Focus this week will be on the European Central Bank meeting on Thursday, where it is expected to deliver a 75 basis-point interest rate hike to tame surging prices.
