Gold Records Worst Monthly Loss in Five Years on Fed ‘Taper-Tantrum’ By Investing.com – Investing.com

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  • Date: 01-Jul-2021
  • Source: Investing.com
  • Sector: Economy
  • Country: Middle East
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Gold Records Worst Monthly Loss in Five Years on Fed ‘Taper-Tantrum’ By Investing.com – Investing.com

By Barani Krishnan

Investing.com - Gold suffered its worst monthly loss in almost five years as bulls in the yellow metal were buffeted by incessant speculation of stimulus tapering and rate hikes by the U.S. central bank — despite neither of that looking likely to happen anytime soon.

on New York’s Comex settled Wednesday’s trade at $1,771.60, down $8, or 0.5% on the day. For the month though, it plunged almost $135, or 7%, its most since a 7.2% drop in November 2016.

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