| Gold prices were under renewed downside pressure as a fresh week and month started in Europe on Monday, with the market falling under the $1,140 level to its lowest since early October. “It would seem that [last] Wednesday’s surprisingly hawkish Fed statement is still having after-effects,” broker Commerzbank said.
The down-move was due to a burst of technical selling in Asia, which triggered sell-stops below $1,140, traders said. Prices hit $1,137.10 before stabilising. Spot gold was recently quoted at $1,136.20/1,137.10 per ounce, a $5.90 loss from the Friday close...............................................Full Article: Source
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