Gold slips over 2%, palladium sheds 10% as post-Fed slide accelerates



* Fed now projects first rate hike in 2023

* U.S. dollar advances to two-month peak

* Palladium slides over 10%, platinum down over 7% (Updates prices)

By Nakul Iyer

June 17 (Reuters) - Gold shed more than 2% on Thursday, precipitating a sell-off across precious metals with palladium set for its worst day in over a year, as the dollar gained ground after the U.S. Federal Reserve struck a hawkish tone on monetary strategy.

Spot gold XAU= fell 2% to $1,776.10 per ounce by 1:44 pm EDT (1744 GMT), having earlier touched its lowest since May 3 at $1,766.29.

U.S. gold futures GCv1 settled down 4.7% at $1,774.80.

A majority of 11 Fed officials on Wednesday projected at least two quarter-point rates rise for 2023, although officials pledged to keep policy supportive for now to encourage a jobs recovery.

The announcement propelled the dollar to an over two-month high, eroding bullion's allure for those holding other currencies, and drove a jump in U.S. Treasury yields, raising the opportunity cost of holding non-yielding gold.

"The Fed's dot plot is providing a clear change in tone, ultimately suggesting that although the Fed continues to reiterate that inflation is transitory, their formal assessment of risks to the economy is decisively more hawkish," TD Securities commodity strategist Daniel Ghali said.

Weakening physical demand and slowing speculative flows into gold, both of which began before the Fed meeting, could also help to drive a further pullback, Ghali added.

Adding to gold's headwinds, the U.S. central bank said it would consider whether it should taper its asset purchases at every subsequent policy meeting.

Jeffrey Christian, managing partner at CPM Group, also said the scale of gold's sell-off was accentuated by bearish technicals, and that the steeper decline in gold futures "reflects the fact that you have more trading volume and more technically oriented investors in the futures market than in spot."

Palladium XPD= led the sell-off, tumbling 10% to $2,517.18, while platinum XPT= fell 6.6% to $1,048.44.

Palladium could be seeing a correction in a rally that some view as overdone, Christian added.

Silver XAG= slipped 4.3% to $25.81 per ounce.



Gold declines over 2% as U.S. Fed turns hawkish Link
Precious metals slide Link



Reporting by Nakul Iyer in Bengaluru, additional reporting by
Swati Verma; editing by Elaine Hardcastle, Barbara Lewis and
Richard Chang

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。杠杆商品可能不適合所有客戶。 請詳細閱讀我們的風險聲明