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Gold Market started the week on a Neutral Footing
The gold market has started the week on a neutral footing with price currently holding around the week’s opening price. For now, the market is sitting slightly lower against the highs printed last week around the 1871.04 level last week. The current rally in the US Dollar is creating an obstacle to higher prices in gold as traders continue to increase their expectations that the Fed will step up its tightening program. A bumper set of inflation and retail sales data for October has raised hawkish risks ahead of the next FOMC in December. At the very least, traders now suspect that, should the current economic ... (full story)
