Weekly Metals Wrap

From orbex.com

After breaking out above the 1235 resistance level last week which has capped price over the past six months, gold prices retreated lower this week as the US Dollar pushed back up toward recent highs. US Dollar has come back into favor ahead of the December FOMC meeting next week which is widely expected to see the Fed raise rates for the fourth time this year. USD was also bolstered this week by dovish comments from ECB president Draghi who acknowledged that risks to the Eurozone are starting to tilt to the downside. Gold prices had been gaining recently due to ongoing geopolitical risks from Brexit and trade wars. ... (full story)