Gold prices trade below $1,700 an ounce for the first time in two weeks Thursday.
Gold prices traded below $1,700 an ounce for the first time in two weeks Thursday as precious metals felt the impact of higher interest rates and a stronger U.S. dollar even though gold is traditionally a hedge against high inflation.
But... Gold prices traded below $1,700 an ounce for the first time in two weeks Thursday as precious metals felt the impact of higher interest rates and a stronger U.S. dollar even though gold is traditionally a hedge against high inflation. But analysts said the true test for the precious metal will arrive next week, when the Federal Reserve delivers its next interest-rate hike, with interest-rate futures pricing in the probability of a 75 basis point hike.
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