Gold settles at monthly low on hawkish Fed hint

Gold fell on Monday, ending at its lowest level in over a month after a Federal Reserve official suggested that an earlier-than-expected interest rate hike is likely.

“If, as I expect, the economy data continue to show a moderate recovery, it will likely be appropriate to resume the path of gradual tightening sooner than is implied by financial-market futures,” he said in a speech at a cybersecurity conference.

June gold GCM6, +0.70%  shed $4.20, or 0.3%, to settle at $1,219.30, its lowest close since Feb. 22. Gold prices had ended the first quarter up 16.4%—the best gain in a calendar quarter since 1986. The SPDR Gold Trust GLD, -0.67%  fell 0.6% to 116.38.

For Free Signals and other KLSE online updates, click here OR Give A Missed Call : +60350219047 Follow Us On Twitter : www.twitter.com/epicresearchmy Like Us On Facebook : www.facebook.com/EpicResearchMalaysia Need Any Assistance Feel Free To Mail Us at : info@epicresearch.my