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Gold Retreats Further From Six-Year Peak as Deep Rate Cut Views Fade


Monday, 22 July 2019 09:47 WIB

GOLDEMAS


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Gold prices inched lower on Monday, extending losses after the metal hit a six-year peak on Friday, as investors rolled back expectations for a sharp interest rate cut at the end of this month, while tensions in the Middle East limited losses for the bullion.

Spot gold was down 0.2% at $1,422.74 per ounce as of 0137 GMT. The metal hit $1,452.60 in the previous session, its highest since May 2013, before closing 1.5% lower.

U.S. gold futures were down 0.2% at $1,424.10 an ounce.

Expectations of an aggressive interest rate cut rose after New York Federal Reserve President John Williams argued for preemptive stimulus in a speech last week.

Source : Reuters


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