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Mining: Gold holds near one-month lows

31/08/2022
Categories: Raw materials

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With the prospect of further Fed rate hikes, gold remains near its lowest level in a month.

Gold came close to a monthly low on Wednesday and was about to experience a fifth consecutive monthly decline, amid strong U.S. data and Comments from the Federal Reserve indicating a rise in interest rates have reduced the attractiveness of the non-productive metal. Spot gold was stable at $1,723.28 an ounce at 01:09 GMT, trading near a one-month low reached on Monday. It has fallen by 2.5% so far in the month. American gold futures fell 0.1% to $1,734.40. On the other hand, cash fell 0.5% to $18.40 an ounce, platinum rose 0.2% to $849.11, and palladium fell 0.3% to $2,082.18.

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