Interest rate pressure on gold continues
Gold is heading for a monthly loss in September as expectations of higher interest rates continue to weigh on the precious metal.
Spot gold traded at around $4,180.30 an ounce, with its monthly decline reaching 6%. US gold futures, meanwhile, rose 0.8% to $4,212.70. The dollar’s monthly gains are also making gold more expensive for investors using other currencies.
Markets are focused on the US Personal Consumption Expenditures (PCE) price index, due at 8:30 a.m. ET. The data is expected to influence expectations for Fed monetary policy, US Treasury yields and the dollar, with investors closely watching for new signals on the outlook for interest rates.
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