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Gold Ends Lower On Chart-Based Selling

Posted on 29 September 2016

Gold prices ended the U.S. day session weaker Wednesday, on mostly technical selling amid a lack of fresh, markets-moving fundamental news on this day. Some U.S. economic data released Wednesday did not significantly impact the metals or other markets. Also, Fed Chair Janet Yellen spoke on banking issues before Congress, but did not address U.S. monetary policy.
Traders and investors worldwide were watching the OPEC oil cartel meeting in Algiers, which began Wednesday. Most energy market watchers do not believe OPEC at this meeting will make any significant moves to reduce their collective crude oil output, or to forge an agreement with Russia to stabilize world oil prices……………………………………Full Article: Source


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