Gold prices hovered near three-month highs on Tuesday as mixed signals from Federal Reserve officials on the path of U.S. interest rates kept the dollar pinned to recent lows, while copper prices sank as rising COVID-19 cases in major importer China pointed to more potential demand disruption.
Fed officials Lael Brainard and Christopher Waller said this week that the U.S. central bank is likely to hike rates at a slower pace in the coming months. But they also suggested that the bank’s hiking cycle was far from over, and that stubbornly high inflation warranted much more tightening.
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