Gold prices drops down as investors rush to take profit

Discussion in 'Metals' started by Profiforex_Victory, Sep 23, 2016.

  1. Profiforex_Victory

    Profiforex_Victory Новичок

    Gold prices went down following its latest increase to 2-week highs. Gold prices had dropped down today with investors rather preferring to take profits from the latest rise in gold prices to a two-and-a-half week high overnight. This comes as the US Federal Reserve had chosen to introduce no changes to interest rates soonest.

    On the Comex division of the New York Mercantile Exchange, gold futures for December delivery went down by 0.45% falling down to $1,338.65.

    The December contract finished yesterday's session 1.00% higher which puts it at $1,344.70 an ounce. Gold prices had really made an impressive rise after the previous decline of the US dollar owing to the disappointment of Fed Chair Yellen and other Fed officials who are not in rush for a hike in interest rates. Investors are so far still positive of at least one interest rate hike before the year finally closes.

    So far across the last six months, gold has been doing well, making up for its best yearly performance in almost ten years.

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