As this week started, gold extended its losses after Christopher Waller, a Federal Reserve Governor, made hawkish comments that had been unexpected. He suggested that it was likely for the Fed to increase benchmark lending rates just as it was likely for the institution to lower rates during its next sitting.
The macroeconomic picture is currently playing a major role in determining gold prices on global markets while the fundamentals of the market are taking a backseat. With a shaky truce on the brink of collapse after strikes and counter-strikes intensified between the U.S. and Iran over recent days, analysts at firms like Collective Mining Ltd. (NYSE American: CNL) (TSX: CNL) linked to precious…
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