Gold falls after worst quarter since 2013 as rate-cut hopes fade
Gold extended its slide on Wednesday to close its worst quarter since 2013, as investors trimmed bets on near-term interest-rate cuts. A firmer dollar and rising real yields pressured bullion, which has fallen well below the records set earlier this year.
Gold extended its slide on Wednesday, closing out its worst quarter since 2013 as investors pared bets on near-term interest-rate cuts. Spot bullion has fallen sharply from the records set earlier this year, pressured by a firmer dollar and rising real yields.
Higher-for-longer rate expectations raise the opportunity cost of holding the non-yielding metal, prompting funds to rotate out of gold. Analysts said easing tensions in the Middle East had also drained some of the safe-haven premium that had lifted prices during the recent conflict.
Traders now look to upcoming US inflation and jobs data for the next cue on Federal Reserve policy. A weaker labour market could revive rate-cut hopes and steady bullion, while resilient data risks deepening the pullback, market watchers said.
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