Gold prices fall in Asia on profit taking, mild dollar rebound.
Gold prices fell in Asia due to profit taking and after a mild dollar rebound overnight. Overnight, gold prices remained close to four-month highs on Wednesday amid expectations the precious metal would likely ‘shrug off’ rate hike worries while dollar weakness limited downside.In a rising interest rate environment, investor appetite for gold weakens as the opportunity cost of holding the precious metal increases relative to other interest-nearing assets such as bonds.
Source : Investing
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