Gold drops on hawkish Fed and Chinese EV sales are super-charged

Gold ended its worst week since February as the Federal Reserve's outlook of two more rate hikes weighed on the precious metal. But some analysts don't see the macro picture supporting that hawkish view.On Saturday mining audiences manager recorded Kitco Roundtable. The gold market was down around $40 on the week, with August Comex gold futures last trading around the $1,930 level.China unveiled on Wednesday a 520 billion yuan ($72.3 billion) package of tax breaks over four years for electric vehicles (EVs) and other green cars, its biggest yet for the industry as it seeks to boost slower auto sales growth, that according to Reuters.