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Wednesday 25 October 2017

Gold continues to lose positions

Gold fell yesterday after investors were eagerly awaiting the announcement of the new Fed leader who would feed the dollar. At the same time, US indices are trading very close to their record highs.
President Trump told the media on Monday that he was "very, very close" to his choice of a new Fed leader.
The spot price of gold fell by 0.5% to $1 276 per ounce after falling to $ 1,271.86 an ounce a day earlier.
Gold futures with delivery in December fell by 0.2 percent to $1 278.9 per ounce.
The spot price of gold lost 6 percent of its one-year high on September 8, at a level of $1,357.54 per ounce. Expectations are that the Fed will raise rates in December for the third time this year.
Gold also does not receive support in the direction of geopolitical uncertainty. Recently, there is nothing new about North Korea, or the situation seems quite relaxed.

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