-
Gold: Bulls Strong Control
Gold has been under selling pressure for the past two days, falling near $2323 an ounce today, Thursday, continuing its decline amid rising US Treasury yields and demand for the US dollar driven by hawkish comments from Fed officials. On Wednesday, Atlanta Fed President Bostic said the path to 2% inflation is not guaranteed and the range of price gains remains large. This came on top of recent comments from Minneapolis Fed President Kashkari, who said the Fed should hold off on cutting rates until there is a significant improvement in inflation and noted that the Fed has not ruled out raising rates if inflation fails ... (full story)