Weekly Metals Wrap

From orbex.com

The yellow metal posted its second consecutive negative week as the resurgent US Dollar pushed gold down. The Dollar had initially been weaker at the start of this week’s session due to the outcome of the US mid-term elections which saw Trump’s Republican party losing control of the House of Representatives, resulting in a divided Congress which will make it difficult for Trump to pursue fiscal expansion. However, traders soon shrugged off the political event to focus on the Fed and the continued tightening in US monetary policy. The Fed kept rates unchanged as expected but reaffirmed its message that further ... (full story)