Gold Market Still Not Ruling Out A June Rate Hike – Barclays

New York (Apr 13)  Although a June rate hike seems unlikely, it is still a possibility, which is helping to cap any gains in the gold market, say commodity analysts at Barclays. They note that the minutes of the March Federal Open Market Committee meeting, which were released last week, are still being digested by the marketplace. “Our economists’ think that a June rate hike, while possible, is unlikely, given the reduction in the Fed’s estimate of NAIRU and the soft March employment report. However, the gold market came under pressure with June not having been ruled out. As we have argued previously, a June hike would expose gold further to downside in the absence of seasonal physical demand,” they say.

Source: KitcoNews