Gold edged higher on Monday, as Asian equity markets fell on disappointing Chinese economic data, but the metal failed to make much headway from a three-week low in the previous session due to worries over U.S. interest rates.
The bigger factor influencing gold prices is still the timing of the interest rate hike in the United States. Higher interest rates could dent demand for gold, a non-interest-bearing asset, and boost the dollar.
No comments:
Post a Comment