Gold heads for quarterly fall on stronger dollar, hawkish cenbanks



* Fed's Powell: lowering inflation will be painful but necessary

* Investors worried about parking capital in gold - analyst

* Platinum set for biggest monthly dip since Nov. 21 (Updates prices)

By Arundhati Sarkar

June 30 (Reuters) - Gold fell on Thursday and was bound for its worst quarter in five as a stronger dollar and hawkish rhetoric from central banks eroded the appeal of the non-yielding asset.

Spot gold XAU= fell 0.6% to $1,806.39 per ounce by 1217 GMT, on track to fall more than 6% for the quarter and drop for a third straight month. U.S. gold futures GCv1 slipped 0.6% to $1,806.30.

"Gold is suffering because of the aggressive stance of central banks, especially the Federal Reserve, telegraphing their strong desire to control inflation regardless of the pain that may generate in the economy at large," said Ricardo Evangelista, a senior analyst with ActivTrades.

Interest rates hikes, which central banks globally have been undertaking to rein in inflation, tend to spike bond yields and raise the opportunity cost of holding zero-yield gold.

Bringing down high inflation around the world will be painful and could even crash growth, but it must be done quickly to prevent rapid price growth from becoming entrenched, the world's top central bank chiefs said at the ECB's annual conference in Portugal.

Normally, gold tends to do well in times of high inflation, but investors will be worried about parking their capital in the non-yielding asset, Evangelista added.

The dollar index .DXY hovered near its recent two-decade peak, and was headed for its best quarter in over seven years, making greenback-priced gold more expensive for overseas buyers.

Bullion's performance in the second quarter erased gains made earlier in the year, even as the Ukraine-Russia conflict lifted the safe-haven asset's demand, with prices near the levels at the start of 2022 at just above $1,800.

"Something must change fundamentally to trigger a potential rally, and as things stand, $1,800 and potentially lower is on the radar until the time when the Fed's future rate hikes are fully priced in – possible late this summer," Fawad Razaqzada, market analyst at City Index said.

Spot silver XAG= fell 1.3% to $20.45 per ounce, platinum XPT= dropped 2.8% to $890.79, palladium XPD= inched 1.9% lower to $1,925.68.
Reporting by Arundhati Sarkar and Bharat Govind Gautam in Bengaluru; Editing by Amy Caren Daniel and Vinay Dwivedi

免責聲明: XM Group提供線上交易平台的登入和執行服務,允許個人查看和/或使用網站所提供的內容,但不進行任何更改或擴展其服務和訪問權限,並受以下條款與條例約束:(i)條款與條例;(ii)風險提示;(iii)完全免責聲明。網站內部所提供的所有資訊,僅限於一般資訊用途。請注意,我們所有的線上交易平台內容並不構成,也不被視為進入金融市場交易的邀約或邀請 。金融市場交易會對您的投資帶來重大風險。

所有缐上交易平台所發佈的資料,僅適用於教育/資訊類用途,不包含也不應被視爲適用於金融、投資稅或交易相關諮詢和建議,或是交易價格紀錄,或是任何金融商品或非應邀途徑的金融相關優惠的交易邀約或邀請。

本網站的所有XM和第三方所提供的内容,包括意見、新聞、研究、分析、價格其他資訊和第三方網站鏈接,皆爲‘按原狀’,並作爲一般市場評論所提供,而非投資建議。請理解和接受,所有被歸類為投資研究範圍的相關内容,並非爲了促進投資研究獨立性,而根據法律要求所編寫,而是被視爲符合營銷傳播相關法律與法規所編寫的内容。請確保您已詳讀並完全理解我們的非獨立投資研究提示和風險提示資訊,相關詳情請點擊 這裡查看。

我們運用 cookies 提供您最佳之網頁使用經驗。更改您的cookie 設定跟詳情。

風險提示:您的資金存在風險。槓桿商品並不適合所有客戶。請詳細閱讀我們的風險聲明