04.11.2015 - Gold price: Hedge funds ready to dump 430 tonnes
Gold is looking vulnerable ahead of Friday's US job numbers. On Tuesday on the Comex market in New York, gold futures with December delivery dates fell for a fifth session in a row giving up more than $20 an ounce to trade at a one month low. Settling at $1,114.10, gold is down nearly $70 an ounce or 6% from where it trading just before the Federal Reserve's interest rate announcement last week which opened the door for a rate rise when the bank next meets in December. Higher interest rates boost the value of the dollar and makes gold less attractive as an investment because the metal is not yield-producing and Friday's employment figures in the US will give the clearest indication whether the Fed lift rates from near zero where they have been since December 2008...............................................Full Article: Source
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