Gold sinks 2% Thursday in bullion's first settlement after Fed minutes

gold-sinks-2%-thursday-in-bullion's-first-settlement-after-fed-minutes

Gold futures ended sharply lower Thursday, marking the sharpest daily slump for the precious metal in over six weeks, a day after minutes from the Federal Reserve’s December gathering showed that officials thought rate increases could come sooner and possibly at a faster pace then they previously expected as inflation runs hot. Inflation is usually a boon for bullion but the prospect of higher rates is dulling the appeal of gold against Treasury yields, which also were seeing their rates rising. February gold GCG22, -0.05% GC00, -0.05% on Thursday ended down $35.90, or 2%, to reach $1,789.20 an ounce.

Source: Marketwatch

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