Gold Weakens After Hawkish Fed Repricing – OCBC
Gold has fallen below its 200-day moving average as the market reprices a more hawkish Federal Reserve, according to OCBC. Oil-led inflation concerns are also weighing on the metal.
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OCBC FX Strategist Sim Moh Siong notes that gold has come under pressure after breaking below its 200-day moving average.
The move is attributed to a repricing of a more hawkish Federal Reserve stance, along with oil-led inflation concerns that continue to dampen demand for the safe-haven metal.
Source: FXStreet Forex News