You are here: Home » International » News » Markets
Business Standard

Gold set for worst month in 2-1/2 years on US rate hike view

Investors believe gold, as a non-interest-paying asset, will take a hit to demand from higher rates as the dollar gains

Reuters  |  SINGAPORE 

Gold extended losses on Monday, dropping towards its lowest level in nearly six years, and was poised to record its steepest monthly slide in two-and-a-half years on prospects of a US interest rate hike this year. The precious metal has fallen out of favour as investors position themselves for the first US rate hike in nearly a decade. The US Federal Reserve is expected to raise rates at its next policy meeting on Dec. 15-16. Investors believe gold, as a non-interest-paying asset, will take a hit to demand from higher rates as the dollar gains. Spot gold slipped 0.2 percent to ...

This article is no longer available in our repository.

There could be multiple reasons for this.

First Published: Mon, November 30 2015. 12:42 IST
RECOMMENDED FOR YOU