Monday 12 November 2018

Gold Prices Fell On A Firmer Dollar As The U.S. Federal Reserve

Gold trading range for the day is 30680-31540.

Gold prices fell on a firmer dollar as the U.S. Federal Reserve indicated they will continue to raise interest rates, lowering demand for bullion.

The Fed has hiked rates three times this year and is widely expected to do so again in December because of a robust U.S. economy, rising inflation and solid jobs growth.

Weaker gold prices boosted investment demand during the third quarter, but gains were capped by a sell-off in gold-backed exchange-traded funds.

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