The US dollar index hovered near a two month high on Thursday Gold prices hit a five-month-low

The US dollar index hovered near a two month high on Thursday

Gold prices hit a five-month-low

The US dollar index hovered near a two month high on Thursday, after the Federal Reserve meeting opened the door to further interest rate hikes, and this week's data showed resilience in the US economy; Gold prices hit a five month low, with factors such as rising US Treasury yields, a strong US dollar, and hawkish views of Federal Reserve officials on interest rates affecting investor sentiment.

Gold prices hit a five month low on Thursday, as factors such as rising US Treasury yields, a strong US dollar, and hawkish views of Federal Reserve officials on interest rates affected investor sentiment. David Meger, head of metal trading at High Ridge Futures, said, Due to rising interest rates and bond yields, gold has been falling in the past few trading days, and we have indeed seen some low buying at these prices. We noticed that yesterday, in response to the minutes of the Federal Open Market Committee (FOMC) meeting, market trends suggested that the Federal Reserve may still need to be more aggressive in further rate hikes than previously expected.