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U.S. economy is slowing, but the Fed will continue to raise rates, keeping gold prices down – Heraeus

Mount Equity Group Tokyo Japan > News > Markets > U.S. economy is slowing, but the Fed will continue to raise rates, keeping gold prices down – Heraeus

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(Kitco News) – The U.S. economy continues to lose momentum and the threat of a recession continues to grow; however, the Federal Reserve will continue to tighten its monetary policies, which could keep gold prices lower for longer, according to one precious metal firm.

Although gold prices have managed to bounce off their recent two-year lows, the precious metal remains trapped around $1,700 an ounce. December gold futures last traded at $1,686.10 an ounce, up 0.66% on the day.

In their latest precious metals report, commodity analysts at Heraeus Precious Metals warned investors that the gold market could continue to struggle through year-end as rising interest rates support the U.S. dollar.

“The longer the Fed continues on its…

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