Wednesday 14 November 2018

Gold Dropped As Concerns Over Italy's Budget And Ongoing Brexit Talks

Gold trading range for the day is 30645-30981.

Gold dropped as concerns over Italy's budget and ongoing Brexit talks, along with expectations for further U.S. rate hikes, held the dollar near 16-month highs.

Dollar strength has outweighed any positive impact of risk aversion on gold, traditionally also seen as a safe store of value in times of market volatility.

The U.S. Federal Reserve reaffirmed its commitment to tightening monetary policy, a move likely to weigh on interest in bullion.

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