Gold Dips Below $1,200 on Comments From Yellen

May. 30, 2016 09:38AM PST

Gold prices briefly dipped below $1,200 per ounce on Monday following comments from Janet Yellen regarding a potential interest rate hike, Reuters reported. As quoted in the publication: The Fed should increase interest rates “in the coming months” if the economy picks up, Yellen said on Friday, bolstering the case for a rate hike in …

Gold prices briefly dipped below $1,200 per ounce on Monday following comments from Janet Yellen regarding a potential interest rate hike, Reuters reported.
As quoted in the publication:

The Fed should increase interest rates “in the coming months” if the economy picks up, Yellen said on Friday, bolstering the case for a rate hike in June or July.
St. Louis Fed President James Bullard said on Monday global markets appeared to be “well-prepared” for a summer rate hike.

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