TeleTrade - Analytics


    873.00 6.50/10
    68% of positive reviews

    23.11.2015 06:19 Gold declined

    Gold fell to $1,070.20 (-0.57%) amid expectations for a Fed's interest rate hike in December after several central bank's officials indicated they were ready for a liftoff in rates.

    New York Federal Reserve Bank President William Dudley said on Friday that the Fed should raise rates "soon" as inflation is likely to pick up pace. San Francisco Federal Reserve Bank President John Williams signaled on Saturday he was prepared for a rate hike in December.

    Higher rates would harm demand for the non-interest-bearing precious metal.

    SPDR Gold Trust, the world's biggest gold-backed exchange-traded fund, said its holdings fell 0.18% to 660.75 tonnes on Friday, the lowest since September 2008.

    To leave a comment you must or Join us

    By visiting our website and services, you agree to the conditions of use of cookies. Learn more
    I agree