Gold Futures Continue Selloff Following Fed Meeting
By
Joseph Hoppe, Dow Jones Newswires
Gold futures were falling on fading hopes for substantial U.S. interest-rate cuts, offsetting safe-haven demand from geopolitical risk.
Futures were down 1.3% at $3,364.30 a troy ounce, and on track for a weekly loss, having retreated from a multi-month high of $3,476.30/oz set on Monday.
The Federal Reserve struck a cautious tone in its meeting on Wednesday, keeping monetary policy unchanged as expected but cautioning of continued inflation risks from tariffs. Higher rates typically damp investor enthusiasm for non-interest bearing bullion.
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