16.09.2015 - Gold price rally on Fed hold 'would be short lived'
Gold prices are continuing to drift lower - but within a very narrow range - as traders wait on the sidelines ahead of a keenly-watched Federal Reserve rates meeting this week. The precious metal dipped to below $1,108 in Asia overnight, the Wall Street Journal reports, marginally lower than the finish in the previous session but still lingering around the $1,110 level at which it has found limited support in recent days. The precious metal is unlikely to "make any significant gains until the meeting, when the possible timing of an increase in US interest rates may become clearer". Many economists are still predicting rates will be increased for the first time in nine years at the meeting, at odds with a clear majority of investors betting on fund futures...............................................Full Article: Source
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