Monday, November 28, 2016

Gold buckles below $1 200 as ascendant dollar spurs ETF exodus


Gold is getting trampled on. Bullion traded below $1,200 an ounce as prospects for economy-boosting policies by President-elect Donald Trump help the Federal Reserve gear up for a rate rise, hoisting the dollar to the highest level in more than a decade just as U.S. equities hit records. Bullion for immediate delivery fell as much as 0.5 percent to $1,182.95 an ounce and was at $1,187.02 at 1:34 p.m. in Singapore, according to Bloomberg generic pricing. Prices sank to $1,181.84 on Wednesday, the lowest since February, and are down 7.1 percent this month, the most since June 2013. After entering a bear market on Wednesday, spot silver dropped again.
http://www.mineweb.com/news/mining-finance-and-investment/gold-buckles-below-1-200-as-ascendant-dollar-spurs-etf-exodus/