| Gold prices ended flat last week. From a high of $1,352.7/ounce on Wednesday, gold prices dropped to $1,327.8/ounce by Friday following comments from a Federal Reserve Official that the central bank is on course to do the second rate hike soon.
The Fed funds futures on Friday showed that the market sees a 30 per cent probability of a rate hike in September (over half the market, however, still sees the next rate hike coming only in December). SPDR Gold Trust, the largest gold ETF in the world, saw holdings decline from 952 tonnes on Tuesday to 939.94 tonnes on Friday...............................................Full Article: Source
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