Gold lower early Tuesday; Expectations of additional Fed rate hikes weigh heavily on precious metal
Recession risks are also in focus for gold prices
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Gold edged lower in early Asian trading Tuesday as expectations of further Fed rate rises weigh on the precious metal, Oanda said.
GOLD APPEAL LESSENED AS WAR IN UKRAINE DRAGS ON
Recession risks are also in focus. The inversion of the U.S. yield curve – where two-year yields are higher than 10-year yields – is "now clear for all to see and has previously been a fairly reliable recession indicator," Oanda said.
Gold edged lower in early Asian trading Tuesday, April 5, 2022, as expectations of further Fed rate rises weighs on the precious metal. (iStock / iStock)
That said, "it doesn't offer any kind of specific timeline and there are doubts about its reliability in an enormous Fed balance sheet world," Oanda added.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| XAU | NO DATA AVAILABLE | - | - | - |
| GOL | NO DATA AVAILABLE | - | - | - |
| GC1 | NO DATA AVAILABLE | - | - | - |
Spot gold is 0.1% lower at $1,931.19 a troy ounce in early Tuesday trading.
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Gold for June delivery rose $10.30 to $1,934 an ounce, The Associated Press reported.
- The Associated Press contributed to this report.