‘String of financial crises’ coming after rate hikes

(Kitco News) After a failed attempt to rise back to $1,700 an ounce, gold is trading at the lowest levels since April 2020. And analysts say the worst is not over as there is a major risk that gold can drop below $1,600 an ounce. Here’s a look at Kitco’s top three stories of the week:

3. Swiss imports of Russian gold hit highest levels since April 2020

2. Gold price jumps as Fed’s Powell talks chance of recession and restrictive rates

1. Simultaneous rate hikes could lead to a ‘string of financial crises,’ warns World Bank

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