Warsh's focus on price stability sends gold prices lower

Gold is struggling to stabilize after the Federal Reserve kept rates unchanged but adopted a hawkish tone, signaling support for at least one more rate hike by year-end. The prospect of higher-for-longer interest rates is a headwind for non-yielding bullion and has likely pressured gold prices and sentiment.

Analysis

Gold is struggling to stabilize after the Federal Reserve kept rates unchanged but adopted a hawkish tone, signaling support for at least one more rate hike by year-end. The prospect of higher-for-longer interest rates is a headwind for non-yielding bullion and has likely pressured gold prices and sentiment.