Gold falls 3% as Warsh hawkish comments lift rate-hike bets
Gold tumbled over 3% Friday after Fed Chair Kevin Warsh signaled commitment to fighting inflation, driving market expectations for September rate hikes higher. USD strength on hawkish repricing pressures gold and lifts dollar pairs; EUR/USD and GBP/USD weaken as rate-hike odds climb, tightening the September policy path traders are pricing.
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