Gold prices dip below $2,000 as Fed jitters grow, M.East fears decline
Investing.com-- Gold prices fell below key levels on Tuesday as easing concerns over the Israel-Hamas war sapped safe haven demand, while anticipation of a Federal Reserve meeting kept traders biased towards the dollar.
Such a scenario is expected to limit any major upside for gold, given that higher rates push up the opportunity cost of buying bullion. This trend weighed heavily on gold over the past year, and kept any trysts with the $2,000 an ounce level largely limited.
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