Gold prices hit a four-week low on Monday, MarketWatch reported. The metal is feeling pressure from a Federal Reserve policy statement that hinted at raising interest rates sooner rather than later.
Gold prices hit a four-week low on Monday, MarketWatch reported. The metal is feeling pressure from a Federal Reserve policy statement that hinted at raising interest rates sooner rather than later.
As quoted in the publication:
December gold GCZ5, -0.61% fell $4.50, or 0.4%, to trade at $1,136.90 an ounce in early Monday trade, putting the yellow metal on track to finish at its lowest level since Oct. 2. Last week, gold lost 1.8% but still managed to log an October gain of 2.4%.
Barclays research predicts that gold might see a bounce if the Fed’s policy setting committee doesn’t lift interest rates until March 2016. The probability of a rate increase in December is 47%, about 55% in January and 69% in March, according to the CME Group’s FedWatch tool. That data suggest a rate increase could come anytime between now and March, but investors are harboring greater expectations for 2016.
The Conversation (0)
Latest News
Outlook Reports world
Featured Precious Metals Investing Stocks
Browse Companies
MARKETS
COMMODITIES
CURRENCIES





