Gold falls in the early Asian trade. The yellow metal is likely weighed down by a hawkish repricing in the dollar after the Federal Reserve's latest meeting, say Maybank analysts in a note. Fed chairman Kevin Warsh's ability to restore credibility at his press conference has also spurred the unwinding of the debasement trade that has dragged on the dollar over the past few months, contributing to gold's recent decline, they add. Gold has already tested $4,000 an ounce, and the analysts reckon its price has to fall to $3,600 an ounce before more buying of the metal is warranted. Spot gold is down 0.2% at $4,007.78 an ounce. (megan.cheah@wsj.com)
Dow Jones Newswires
Gold Declines, Likely Weighed by Hawkish Dollar Repricing — Market Talk
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Gold falls in the early Asian trade. The yellow metal is likely weighed down by a hawkish repricing in the dollar after the Federal Reserve's latest meeting, say Maybank analysts in a note. Fed chairman Kevin Warsh's ability to restore credibility at his press conference has also spurred the unwind…