Gold Prices Fall Over 4% In A Month: What Lies Ahead For The Yellow Metal

Gold price internationally is lamenting and lamenting with now over 4% fall in a month's time to the tune of almost $77 per ounce. In the international markets spot gold at the time of writing this copy at around 9:42 am IST was trading again with a cut at $1730 per ounce.

Yesterday important data on inflation revealed in the US provided that inflation has hit the highest in over 41 years. This clearly points to the fact that the US Federal Bank shall continue with its rate hike plans to combat the scorching inflation. In fact reports point to the fact that the rate hike shall be of a larger extent as against earlier expected. In July meet on 26-27th as per the CME's Fed Watch tool there also is a possibility that Fed would or can increase rates even by 100 bps. 1 bps is one-hundredth of a percentage point.

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