Gold prices fell on Wednesday as the U.S. dollar stayed firm amid bets the Federal Reserve will announce another hike in interest rate this year.
Strong PMI data and hawkish comments from several Federal Reserve officials including Fed Chair Kevin Warsh pushed up the demand for the greenback. Uncertainty about Strait of Hormuz reopening and trade worries too contributed to dollar’s upmove.
Chicago Fed President Austan Goolsbee noted that supply stocks have become more frequent and more persistent in recent times, and the Fed can longer simply “look through” them as transitory factors, hinting at further tightening.
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Gold Falls Again As Dollar Rises On Rate Hike Bets
2026-09-23 18:35:41
