As attention turns to the Fed’s signals, gold declines as the dollar rises.
Following hawkish remarks by Bank members last week that hurt bullion, traders are hesitantly optimistic on the dollar, an analyst claims.
Bangalore – A spike in the dollar dragged gold downward on Monday after its worst week in five, as traders anticipated additional indications on central banks’ interest rate policy. By 4.17 am, spot gold was down 0.3% to $1,744.38 per ounce. As of $1,746.30, US gold futures were down 0.5%.
Despite reaching a high since mid-August on November 15, gold lost 1.2% in the week ending November 18, its lowest performance since the one ending October 14.
Asian sentiment is not being impacted by significant economic data, therefore “traders are tentatively bullish on the
