Internationally Gold Ease Today Around $1940 Ounce

gold prices

Gold: eased to around $1,940 an ounce on Monday after hitting a more than 1-week high of $1,949 earlier in the day, as the Federal Reserve’s aggressive tightening plans countered fresh concerns over Russia’s attacks in eastern Ukraine.

The latest Federal Reserve minutes showed that officials planned to reduce the central bank’s massive balance sheet by about $95 billion a month, and indicated that one or more 50 basis point interest rate hikes could be warranted to combat surging inflation.

The central bank’s hawkish stance lifted the dollar and Treasury yields to multi-year highs, pressuring gold prices. Meanwhile, investors tracked geopolitical developments after Russian forces pounded targets in eastern Ukraine with missiles and artillery on Sunday, as Austria’s leader planned to meet with Putin in Moscow.

About Haroon Khawaja

Haroon Khawaja Is a Journalist & CEO Of B-Trams , Ex Reporter At Geo News

View all posts by Haroon Khawaja →