Spot gold held steady at $1,213.70 per ounce having dropped to its weakest level since the beginning of this month at $1,211.30 in the previous session while U.S. gold futures were down about 0.1% to $1,213.
On Wednesday Gold prices were moderately constrained by a strong greenback after a senior U.S. Federal Reserve official affirmed that there is a demand for an additional hike in interest rates. This will be more costly for owners of other currencies.
On Tuesday Fed vice Chair Richard Clarita said that the central bank probably will proceed to steadily increase interest rates but it is very important to watch the economic data closely while this policy is approaching a neutral stance. John Sharma an economist with National Australia Bank said “The strength of the U.S. dollar has been bad for gold, while the Fed is a little more bullish about interest rates."
OPEC, G20 meetings important for oil
Analisi Giornaliera - 28/11/2018