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Gold stages slight rebound on bargain hunting after Fed's hawkish tone

Spot gold was up 0.6% at $1,822.36 per ounce, as of 0235 GMT

Gold Prices | US Federal Reserve | Gold


By Brijesh Patel (Reuters) - Gold prices rose on Thursday as investors took advantage of a sharp fall in the previous session to buy the metal after the U.S. Federal Reserve signalled it might raise interest rates sooner than expected. Spot gold was up 0.6% at $1,822.36 per ounce, as of 0235 GMT. U.S. gold futures were down 2% at $1,824.70 per ounce. "Gold was crushed overnight by a more hawkish Fed. It has staged a modest recovery in Asia but the rally looks more like speculative dip buying and fast money short-covering, than a vote of confidence in the yellow ...

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First Published: Thu, June 17 2021. 09:16 IST