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Commodities Briefing - Categorized | Bullion/Gold, Price Watch more

Gold is Poised to Move Lower Than Its $1,200 level

Posted on 28 May 2015

Gold had a rough start to the week as the yellow metal dulled when it fell below the key $1,200 level, due to the strength of the U.S. dollar. For most of 2015, gold has been trading around $1,200 as it struggles to find its footing amid speculation over interest rate hikes that is causing gyrations in the markets.
Gold has mostly been more of a technical trade. Commodities are priced in U.S. dollars, so as the greenback moves higher, instruments like oil and gold generally move lower. And, of course, the reverse of this strong correlation also applies…………………………………….Full Article: Source


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