Bank of Japan Governor Kazuo Ueda’s comment on Monday that the central bank will raise interest rates further if the economy continues to improve also hit sentiment as worries grew about unwinding of yen carry trades-a strategy used by investors to borrow from a low-interest country and invest in a high-interest-yielding country.
Gold heads for sharpest weekly decline in four months on Fed rate outlook
Gold prices took a hit on Friday amid strong indicators of US economic growth and climbing oil prices. Spot gold prices sank to their lowest