14.09.2015 - Gold Bulls Can't Shake Fed Woes as $2.6 Billion Wiped From ETPs
Gold bulls can’t shake the specter of higher U.S. interest rates as Federal Reserve policy makers gather this week. Prices are trading near a one-month low, investors are dumping holdings through exchange-traded products, and the metal’s volatility is rebounding. A resilient U.S. job market and dollar strength are adding to gold’s woes, spurring money managers to cut their bets on a rally by more than a third. More than $2.6 billion was wiped from the value of gold ETPs in the past three weeks as investors awaited the central bank meeting. While Fed-fund futures show lowered expectations for monetary tightening this week, traders are still pricing in more than a 50 percent chance for a rate increase by the end of the year...............................................Full Article: Source
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