Gold Edges Lower On Fed’s Hawkish Outlook

WASHINGTON (dpa-AFX) – Gold prices edged lower on Thursday, though the downside remained capped by a weakening dollar on receding recession worries. Spot gold slipped 0.2 percent to $1,788.03 per ounce, while U.S. gold futures were down 0.6 percent at $1,803.40.The lost further ground versus other major currencies amid hopes that inflation in the United States may have peaked, which could allow the Fed to slow the pace of interest rate increases.U.S. Treasury yields were mixed in the wake of hawkish Fed comments.

Author: Afx News