Gold muted after higher Fed rate signals, debt talks eyed

Gold muted after higher Fed rate signals, debt talks eyed
# 16 May 2023 10:12 (UTC +04:00)

Gold prices eased in a narrow range on Tuesday as traders assessed comments from U.S. central bank officials on interest rates staying high, while the US debt-ceiling debate and risk of a default curbed further losses in bullion, APA reports citing Financial Post.

Spot gold fell 0.2% to $2,015.84 per ounce by 0452 GMT, while U.S. gold futures eased 0.1% to $2,020.40.

Gold hit $2,072.19 this month, just shy of a record high of $2,072.49, after the Federal Reserve hinted that its marathon raising cycle may be ending.

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