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Gold price nears ten-month low and could fall to $1,150

Posted on 25 November 2016

The gold price closed in on its lowest level for ten months yesterday, hitting a nadir of $1,180 before recovering slightly. Having fallen in excess of ten per cent from a brief post-US presidential election high of $1,337, the precious metal remains under pressure ahead of an expected increase in US interest rates next month.
New figures show spending by US companies grew 4.8 per cent last month, its biggest gain in a year. Coupled with recent strong labour reports and positive rhetoric from policymakers, this has convinced traders borrowing costs will rise in December, with market bets putting the likelihood near 100 per cent………………………………….Full Article: Source


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