Business

Gold Drops as Traders Brace for Fed Hike Amid High US Inflation

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“Gold competes against the bond markets as a safe haven,” Bob Haberkorn, senior market strategist at RJO Futures, said by phone. A potential rate hike of 75 to 100 basis points by the Fed “might make the bond market a little more attractive to safe haven buyers than the gold market would normally be.”



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