Profile image
Story Views

Now:
Last Hour:
Last 24 Hours:
Total:

MTECHTIPS:-Gold hits 9-month lows as dollar surges

Thursday, November 24, 2016 4:41
% of readers think this story is Fact. Add your two cents.

Headline: Bitcoin & Blockchain Searches Exceed Trump! Blockchain Stocks Are Next!

MTECHTIPS:-Gold hits 9-month lows as dollar surges

 

 

MTECHTIPS- Gold prices fell to the lowest levels since February on Wednesday after the dollar surged to fresh 14-year highs as upbeat U.S. economic reports underlined expectations for higher interest rates. Gold for December delivery on the Comex division of the New York Mercantile Exchange was down 2.08% to $1,185.05 a troy ounce by 1017 ET, a level not seen since February 10. The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, surged to 101.81, the strongest level since April 2003. The dollar rallied after data showing that U.S. durable goods orders rebounded in October. The report supported the view that the Federal Reserve will raise interest rates next month. Gold is priced in dollars and becomes more expensive to holders of other currencies when the dollar strengthens. According to Investing.com’s Fed Rate Monitor Tool, odds for a rate hike at the Fed’s December 13-14 meeting are at 100%. Prices of the yellow metal had already come under pressure this month amid the view that increased U.S. fiscal spending under a Trump administration will spur economic growth and inflation, which would ultimately lead to an era of higher interest rates.

 

WWW.MTECHTIPS.COM

 

07489294118-119

We encourage you to Share our Reports, Analyses, Breaking News and Videos. Simply Click your Favorite Social Media Button and Share.

Report abuse

Comments

Your Comments
Question   Razz  Sad   Evil  Exclaim  Smile  Redface  Biggrin  Surprised  Eek   Confused   Cool  LOL   Mad   Twisted  Rolleyes   Wink  Idea  Arrow  Neutral  Cry   Mr. Green

Top Stories
Recent Stories
 

Featured

 

Top Global

 

Top Alternative

 

Register

Newsletter

Email this story
Email this story

If you really want to ban this commenter, please write down the reason:

If you really want to disable all recommended stories, click on OK button. After that, you will be redirect to your options page.