Gold Tilts Lower as Iran Impasse Continues to Fan Rate-Hike Bets
Gold prices declined as rising energy costs fueled expectations that the Federal Reserve will continue to raise interest rates to combat inflation.
Gold was set to end to the week lower as elevated energy prices drove bond yields higher and fueled expectations the Federal Reserve will need to raise interest rates further to contain inflation.
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Gavin Newsom vetoed the Care Without Fear Act, which would have restricted future governors from granting extradition requests from other states targeting people for legally protected abortion and gender-affirming care.
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The annual Global Citizen Festival in Central Park was cancelled Friday after being threatened by a powerful nor’easter expected to slam parts of New York City over the weekend, organizers said.
AI TLDR
A powerful nor'easter is expected to bring heavy rain and strong winds to the Northeast throughout the weekend. Residents are advised to prepare for the incoming storm.