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Gold set to post a near 1% weekly fall on rate hike bets

From zawya.com

Gold prices steadied on Friday as the dollar eased, but bullion's constant tussle with expectations for aggressive tightening by the Federal Reserve kept it on course for a weekly fall of nearly 1%. Spot gold edged up 0.1% to $1,823.70 per ounce by 1256 GMT. U.S. gold futures fell 0.2% to $1,825.40. The dollar index slipped 0.1%, making gold less expensive for overseas buyers. "In the near term at least, we still expect continued volatility in gold... We expect gold to remain in the established range of between $1,800 and $1,870 per ounce," Commerzbank analyst Carsten Fritsch said. St. Louis Fed President James ... (full story)

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  • Category: Fundamental Analysis