| Gold investors enjoyed a strong rally between early August and mid-October, but that rally now appears to be over. The shiny metal shed another 1.3% during the latest session to trade at US$1,089 an ounce, a full 7.5% lower than its US$1,177 price tag on October 28. One of the factors that caused the mineral’s price to spike was the presumed delay from the US Federal Reserve in hiking interest rates.
Many investors and economists begun to question whether the US economy was in fact strong enough to support a higher cash rate, generating more interest in the supposed ‘safe haven’ that is gold. However, those hopes have faded somewhat. The Fed is now expected to hike interest rates for the first time in nearly a decade next month, which could mark the beginning of a gradual move back to more normal levels of monetary policy...............................................Full Article: Source
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