COMEX Gold Closes $17.6 On Fears Fed Raises Interest Rates Next Month In addition, the dollar strengthened, pressured again.
Foreign news reports revealed that yesterday (10 May 65) the Commodity Exchange (COMEX) gold contract was delivered in June. It was down $17.6, or 0.95%, at $1,841 an ounce.
Concerns about the US Federal Reserve (Fed) raising interest rates sharply to curb inflation The CME Group’s FedWatch Tool indicates that investors are now weighing 75% of the Fed’s rate hike of 0.75% at its June 14-15 meeting.
In addition, the strong dollar It is also a factor depressing the price of gold as well. The dollar index rose 0.26% yesterday to 103.9200.