Gold headed for worst week since March 2020

Jun 18, 2021 AlShorts Web Desk

Gold may be headed for its worst week since March 2020 over US Federal Reserve’s hawkish tone, which has Dollar pegged for a rise. Spot Gold rose 0.6% to USD1,784.16 per ounce, even as prices have dropped by around 5% in this week. Despite gold’s appeal as a hedge against inflation, higher interest rates will reduce its appeal.