Gold Nudges Higher As Evans Talks Rate Hikes

Gold futures inched higer Monday, addng to last week’s gains despite hawkish comments from Chicago Federal Reserve President Charles Evans.

“I think three is entirely possible, as I gain more confidence in the outlook I could support three total this year. If inflation began to pick up, that would certainly solidify my report. It could be three, it could be two, it could be four if things really pick up,” Evans told the FOX Business Network.

On the other hand, in an interview on CNBC’s “Squawk Box,” Minneapolis Fed President Neel Kashkari said he voted against the rate hike because inflation is still below the central bank’s 2 percent target.

April gold was up $4 at $1233 an ounce.

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Source: Forex News