Gold Extends Losses On Fed Rate Hike Expectations

India, Aug. 31 -- Gold extended losses on Monday amid renewed Middle East tensions and Fed Chair Kevin Warsh's hawkish Jackson Hole remarks.

Spot gold slipped 0.4 percent to 4,439 an ounce after tumbling about 3 percent on Friday following Warsh's hawkish speech. U.S. gold futures were down 0.9 percent at $4,489.61.

Warsh's speech at the Jackson Holde symposium in the face of rising inflation risks raised market expectations for an interest rate hike in September and again in December.

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Published by HT Digital Content Services with permission from RTT News....