Monday, October 09, 2017

Bottoming Continues For Precious Metals

Gold slides on Fed hike expectations

Precious metal gold sank to a two-month low on Friday, as US payrolls data stoked hopes of a Federal Reserve interest rate hike, dealers said. The price of gold slid to $1,260.64 per ounce in afternoon London deals. "Gold was pressured this week by increasing prospects of higher US interest rates," said FXTM analyst Lukman Otunuga.…