11.11.2014 - Gold Prices Fall on Profit-Taking
Gold prices fell Monday, as a rising dollar prompted traders to lock in profits after last week’s sharp rally. Some analysts believe Friday’s rally was only a brief respite for gold prices. With the Federal Reserve set to raise rates next year while the Bank of Japan and European Central Bank remain on an easing path, the dollar is likely to continue its ascent, pushing gold down further, said Suki Cooper, an analyst at Barclays. “The strength of the dollar appears to be an insurmountable hurdle for gold,” Ms. Cooper said in a note to investors. “Gold is taking its cue from currency movements and rates expectations, suggesting further downside pressure.”..............................................Full Article: Source
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