| Gold’s price swings are running out of steam as investors factor in the likelihood that the Federal Reserve will raise interest rates next week. After jumping the most since August on Dec. 4 and then sliding 0.8 percent on Monday, bullion futures gained 0.1 percent on Tuesday.
The metal touched a five-year low last week on expectations that the Fed will soon raise borrowing costs, curbing demand for assets that don’t pay interest. There’s an 78 percent chance that policy makers will raise rates at their Dec. 15-16 meeting, Fed-funds futures show and Fed Chair Janet Yellen has said the pace of increases will be gradual. Holdings in bullion-backed funds snapped the longest run of declines since March...............................................Full Article: Source
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