| Gold prices are headed for a critical test according to The Week today. The Federal Reserve’s ‘wait and see’ stance suggests policymakers there are in no rush to increase rates this year. “Sentiment over interest rates has been controlling gold prices all year,” says The Week “as traders prepare for a rise that will lessen the attraction of non-yielding commodities and boost the dollar”.
Market analysts agree that a threshold is looming “in the form of the recent high in August and the 200-day rolling average gold price”. However, some are more optimistic than others. Mining.com point to analysts at Denmark’s Saxo Bank who “sense a change of sentiment is unfolding”, with a rise above the $1,170 August high confirming that “a floor has been established”...............................................Full Article: Source
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