Gold Makes Small Gains, Steadies Three-Day Losing Streak

Gold made some slight gains on Wednesday’s close, climbing $1.30 to reach $1,296.15 per ounce. As Reuters reported, the rise in price has steadied the yellow metal’s losing streak for the past three days. US gold futures for December delivery rose $0.30 to reach $1,297.00 per ounce.

Keeping demand low is renewed interest in the US dollar, spread from optimism relating to the country’s economy. Additionally, China, the biggest gold-buying nation, has seen weak demand of late.

Many investors are waiting for news on Friday from the Federal Reserve, which will set the tone for future gold prices.

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Otis-Gold-LogoOtis Gold Corp. (TSXV:OOO) is a near-term producer with an NI 43-101 resource 520,000 ounces of drill-indicated gold at its Kilgore Project in Idaho. Work is scheduled to begin soon at the North Target area of the Kilgore Gold Project. Connect with Otis Gold Corp and never miss a catalyst.

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