Gold Steady Around $1200 with U.S. Rate Hike Outlook in Focus

Gold hovered below $1,200 an ounce on Tuesday after slipping nearly 1 percent the session before, pressured by the possibility that U.S. interest rates could rise in the near term.

Spot gold was little changed at $1,198.20 an ounce at 0023 GMT.  U.S. gold for June delivery was steady at $1,198.30 an ounce.

Recent comments from Federal Reserve officials suggest the U.S. central bank has not ruled out the chance of raising interest rates by June even as some analysts doubt that possibility amid signs of renewed economic weakness.

CNBC

This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.