Gold falls on profit booking; investors eye Fed rate cut signals | Metals Mine

  • Gold falls on profit booking; investors eye Fed rate cut signals

    From msn.com

    Gold prices fell over 1% on Tuesday as investors took profits following a six-week high in the previous session, while they awaited key U.S. economic data ahead of Federal Reserve policy meeting next week. Spot gold lost 1.4% to $4,173.91 per ounce by 1109 a.m. ET (1609 GMT). U.S. gold futures for February delivery were down 1.6% at $4,205.10 per ounce. "It's probably just a little bit of profit taking... the market's biggest focus of late has been rate cut expectations and those remain pretty steady," said Peter Grant, vice president and senior metals strategist at Zaner Metals. "We are in a continuation ... (full story)

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