Gold prices struggle to pull off from losses

Discussion in 'Metals' started by Profiforex_Victory, Sep 28, 2016.

  1. Profiforex_Victory

    Profiforex_Victory Новичок

    Gold prices reduced its overnight losses in course of the North America trading session today. Despite the small increase in gold prices, the precious yellow metal was yet to pull out from the negative territory as investors are paying greater attention to upcoming Federal Reserve speeches. These speeches will give them hints as to when we could have the next US interest rates hike.

    Gold for December delivery on the Comex division of the New York Mercantile Exchange dropped down to a daily low of $1,325.50 for a troy ounce. Actually it has been a week since prices went down to this level.

    Just yesterday prices had terribly dropped down by $13.70, which amounts to 1.02%. In almost four weeks, this is the biggest loss in gold prices we are having for one day. The decline comes from the US Dollar increasing on the victory of Hilary Clinton over Donald Trump in the first U.S. presidential debate.

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