12.08.2013 - Gold to consolidate, rise
Comex gold futures ended higher on Friday as a softer dollar offset fears of a tapering in stimulus measures next month. The US Federal Reserve has hinted that it will likely begin cutting back on its massive bond-buying program next month, as long as economic data continues to improve. Gold prices have benefited from the stimulus measures, which have kept interest rates down and fanned worries about higher inflation. Market participants worry that gold prices will decline as the accommodative policies are reined in. The dollar held near a seven-week low against a basket of currencies as risk sentiment picked up as investors abandoned the greenback after surprisingly strong trade figures from China...............................................Full Article: Source
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