18.12.2014 - Gold Declines to Two-Week Low on Outlook for U.S. Interest Rates
Gold prices fell to a two-week low on concern that the Federal Reserve is moving closer to raising U.S. interest rates, reducing the precious metal’s appeal as a store of value. Fed officials dropped a pledge to keep borrowing costs near zero percent for a “considerable time,” replacing it with a promise to be “patient,” according to a statement at the conclusion of a two-day meeting. Last month, gold touched a four-year low as the dollar extended a rally to a five-year high, eroding the investment appeal of gold...........................................Full Article: Source
Print