Gold Falls as Stocks Advance & Traders See Higher US Rates

Gold Falls as Stocks Advance & Traders See Higher US Rates

Gold Silver Reports — Gold fell, extending the first back-to-back weekly drop since May, as buoyant equity markets and expectations for higher US interest rates hurt demand. 

Fed policy makers are meeting and signs of strength in the US economy have prompted traders to increase bets on a rate increase. They’re pricing in a 45% chance of a move by Dec, up from 12% at the start of the month.Higher rates are typically negative for gold because metal doesn’t pay interest. Bullion lost 0.3% to $1,318.98 an ounce by 11:31am in London, according to Bloomberg generic pricing. The metal declined 1.1% last week and is up 24% this year. — Neal Bhai Reports


Our site is objectively in letter and spirit, based on pure Technical Analysis. All other content(s), viz., International News, Indian Business News, Investment Psychology, Cartoons, Caricatures, etc are all to give additional ambiance and make the reader more enlightening. As the markets are super dynamic by very nature, you are assumed to be exercising discretion and constraint as per your emotional, financial and other resources. This blog will never ever create rumors or have any intention for bad propaganda. We report rumors and hear-say but never create the same. This is for your information and assessment. For more information please read our Risk Disclaimer and Terms of Use.

Technically Yours,

Team, New Delhi, INDIA