Gold has plunged around $120 since
December gold futures rose $5.00, or 0.41%, to $1,213.70 per ounce at 16:47 GMT on Monday. Gold declined 1.3% last week to settle at its lowest level since May. The yellow metal is still up about 20%
Silver was unable to make gains to kick off the trading week. December silver futures tumbled $0.03, or 0.20%, to $16.59 an ounce. Silver finished last week’s trading session 1.6% lower. It has fallen nearly $3 since it was announced that Trump pulled off an upset victory. Silver is up nearly 40% so far this year.
Gold was able to make gains on Monday as the US dollar had pared some of last week’s impressive gains. The momentary pause in the greenback’s increase comes as investors fear inflation stemming from the
The precious metal also made gains by news that gold premiums in India spiked to
Moreover, the lack of any major economic news also allowed gold to make up for some lost ground.
Interest in gold is starting to dip as reports suggest that the Federal Reserve will raise interest rates at next month’s Federal Open Market Committee (FOMC) meeting and announce a wave of rate hikes throughout 2017. This could impact gold because it is sensitive to a
When rates go up, the opportunity cost is lifted and investors flee gold to
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