Gold near $4,000 heads for worst quarter in 13 years
Gold is struggling to hold the $4,000 level as the metal heads for its worst quarter since 2013. According to MarketWatch, a firmer dollar and expectations of higher US interest rates are weighing on safe-haven demand and dragging prices lower.
After setting records through the year, gold lost momentum heading into quarter-end. The metal has been trading just below the $4,000 threshold as investors look for direction.
According to MarketWatch, the pressure stems from a stronger US dollar and expectations that interest rates will stay higher for longer. Non-yielding gold loses some of its appeal in such an environment.
Analysts note the quarter could close as the weakest since 2013. Even so, persistent geopolitical risks may keep safe-haven demand alive over the medium term.
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