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Gold extends daily gains

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Dec 21, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    FXStreet (Córdoba) - Gold advanced further on Monday as the dollar weakened slightly across the board in quiet trade.

    Gold futures rose more than 1% and peaked at $1,080 an ounce after closing higher on Friday. In the lead up to the Federal Reserve's historic meeting last week, the metal scored a 6-year low of $1,045.

    Despite recent recovery, gold remains on track to post its third yearly loss on a row in 2015.
    The meal seems still vulnerable as the Federal Reserve raised rates last week for first time since 2006 and it is expected to continue tightening monetary policy next year.
    For more information, read our latest forex news.
     

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