Gold falls to near two-week low as Fed's Warsh signals rate hikes to curb inflation
Gold prices fell to their lowest level in almost two weeks on Monday, pressured by remarks from Federal Reserve chairman Kevin Warsh signalling that interest rates may need to rise further to ease inflationary pressure.
Spot gold was down 0.3 per cent at $4,439.31 an ounce as of 7:50am Libya time. US gold futures fell 0.9 per cent to $4,489.50 an ounce. Among other precious metals, spot silver slipped 0.5 per cent to $66.68 an ounce, according to Reuters.
