| Globally, the yellow metal has already lost 9 percent of its value this year and is on track for its third year of losses. The metal slid to USD 1,045.85, its lowest since February 2010, last week, when the dollar spiked to its highest level in 12-1/2 years following Fed chair Janet Yellen`s hint at a US rate rise this month.
US central bank is expected to raise rates for the first time in nearly a decade at its next policy meeting on Dec. 15-16. Higher rates should dent demand for non-interest-paying gold, which has already lost 9 percent of its value this year and is on track for its third year of losses...............................................Full Article: Source
|