| Gold traded in a narrow range between $1250 and $1256 per ounce on Monday, after it fell nearly 0.6% to a 1-week low of $1246 last Friday and closed the week at $1251.
"Because the possibility of a December rate hike is increasing, generally, the trend of gold price is downwards but in the short term we think that there could be relatively a mild technical correction," said Jiang Shu, chief analyst at gold mining group Shandong, who sees gold reaching $1270 in the short term before sharply falling back on expectations of a US rate hike.........................................Full Article: Source
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