Trader’s Timeout: Fed-Speak Wears Down Gold Prices

[kreslik.news]

This article was written by Evdokia Pitsillidou, Risk Management Associate at easyMarkets.

It has been a rough couple of weeks for gold futures, as skittish investors digested mixed signals from Federal Reserve officials about the pace and timing of future rate hikes.

Gold for December settlement, the most actively traded futures contract, declined in six of seven days through Thursday, September 15. The declines amounted to around 2.6%, as the yellow metal reached its lowest level in two weeks.

At the time of writing, gold futures were trading at $1,318.80 a troy ounce. Less than two weeks ago, prices were north ... (read more)