From mint · · 40s
Gold Prices Drop as Rate Hike Bets Rise
Gold falls 4.5% this week, poised for worst four-month stretch amid rate hike expectations.
In brief
Gold falls 4.5% this week, poised for worst four-month stretch amid rate hike expectations. Gold prices dropped 4.5% this week, marking its worst week in four months as rate hike bets increase. Originally reported by mint.
Gold Prices Drop
Spot gold down about 4.5% this week, the most since early June.
US PPI Data
US Producer Price Index for final demand rose 0.3% last month.
Rate Hike Bets
Markets see 91.4% chance of 25-basis-point US rate hike in December.
Gold Selloff
Gold prices slid 3% on Thursday, hitting a more-than-one-year low.
The main idea
Gold prices dropped 4.5% this week, marking its worst week in four months as rate hike bets increase.
