Gold futures test 5-session high after BOJ rate hike.
Gold futures rallied to a five-session high of $4,439.80 before pulling back to near unchanged as markets digested a rate hike from the Bank of Japan. The BOJ raised rates a quarter point to 1.25%, marking its highest level since 1995. With major central banks continuing to lift rates, upward pressure on global yields remains a headwind for the precious metal. Meanwhile, U.S. plans to discuss a post-war strategy with Gulf Cooperation Council leaders in New York could reduce safe-haven demand, potentially adding further pressure to prices.
80 before pulling back to near unchanged as markets digested a rate hike from the Bank of Japan. 25%, marking its highest level since 1995. With major central banks continuing to lift rates, upward pressure on global yields remains a headwind for the precious metal. S.
plans to discuss a post-war strategy with Gulf Cooperation Council leaders in New York could reduce safe-haven demand, potentially adding further pressure to prices.