Thursday, 18 October 2018
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Gold Settles Higher Ahead Of Broadly Expected Fed Rate Hike This Week
Tuesday, 25 September 2018 03:13 WIB | PRECIOUS METALS |GOLDEMAS

Gold futures settled higher on Monday, recouping some of their recent loss as investors awaited what™s widely expected to be the Federal Reserve™s third interest-rate hike of 2018 this week ” a well-telegraphed move to markets.

December gold rose $3.10, or 0.3%, to settle at $1,204.40 an ounce. It settled Friday at $1,201.30, its lowest level in a week even as it ended little changed in price for all of last week.

Gold found support as the dollar index tilted slightly lower on Monday. The dollar and gold, which is chiefly priced in the U.S. currency, tend to move inversely. Gold prices based on the most-active contracts have declined by 8% so far in 2018 as the dollar index is up about 2.2% for the year to date, a divergent move driven in large part by the Fed tightening U.S. monetary policy more aggressively than the rest of the developed world.

Source : Market Watch

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