Gold prices fall as US yields firm

Bengaluru —

Global investor attention remains fixed on the US Federal Reserve’s January 25-26 meeting after central bank officials signalled they would start raising interest rates in March to tame inflation, which rose 7% last month from a year earlier — the fastest pace in nearly 40 years. Gold’s near-term fate lies in the Fed’s hands and how quickly they raise interest rates over the next half year, said Stephen Innes, managing partner at SPI Asset Management, adding that the metal was likely to remain range bound and possibly turn negative going into the meeting.

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