Loading…
Spot gold fell 0.6% to $1,911.53 an ounce on June 27 after strong U.S. economic readings. Traders positioned ahead of Powell's speech and upcoming data that could signal future rate hikes.
U.S. gold futures settled 0.5% lower at $1,923.80.
Strong U.S. data supports expectations of further Fed tightening, which lifts the dollar and weighs on non-yielding assets. The move is routine and has limited read-across to feed commodities.
reuters.comDeep VakilJun 27, 2023Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
