| Some believe the yellow metal may hit $1,000 per ounce if the US Federal Reserve raises interest rates next week. The gold price has stayed fairly steady this week, trading between $1,068.60 and $1,082.30 per ounce. It peaked above the $1,080 level on Wednesday, and since then has declined — as of 4:00 p.m. EST Thursday it was trading at $1.071.70.
In terms of what’s been keeping the gold price level, MarketWatch states that its gains earlier this week came on the back of “recent weakness in the dollar compared with the euro.” The euro’s positive performance dates back to last week, when the European Central Bank cut its deposit facility to -0.3 percent from -0.2 percent, leaving its main refinancing rate steady at 0.05...............................................Full Article: Source
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