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Gold prices take a hit as Yellen colors outside the lines, talks rate hikes

From kitco.com

The gold market is trying to crawl up from session lows as it was dragged down by hawkish comments from Secretary Treasurer Janet Yellen. Speaking in a webinar hosted by The Atlantic, Yellen warned that interest rates might have to rise to stop the U.S. economy from overheating. "It may be that interest rates will have to rise somewhat to make sure that our economy doesn't overheat, even though the additional spending is relatively small relative to the size of the economy,” she said in the presentation, catching gold and silver prices by surprise. Gold prices last traded at $1,775.1 an ounce, down nearly 1% on the ... (full story)

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  • Category: Fundamental Analysis