STARTRADER Weekly Update | Gold Prices Dip to Three-Week Low Amidst Fed Interest Rate Hike Speculation

Gold prices have registered weekly losses for the second consecutive week, falling more than 1.4% to trade at $1980 per ounce, which is its lowest level in three weeks.

The dollar index has slightly risen and settled above 101.40 levels, following recent statements by Fed’s officials that indicate their support for a potential increase in interest rates during the next May meeting.

Expectations for the Fed to raise interest rates by 25 basis points next month have risen to 80%.

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