Gold slips to $4,330 as Fed signals rate hikes, China demand supports price
Gold moved closer to $4,330 an ounce on Wednesday, pressured by a stronger US dollar and the growing expectation of further Federal Reserve interest rate hikes. Spot gold fell around 0.6% to approximately $4,334 in late Asian trading, extending a recent decline that erased most of last week’s gains following the Federal Reserve meeting. The Bloomberg Dollar Spot Index rose for a fourth straight session, making gold more expensive for buyers using other currencies.