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Gold Facing Pressure as Fed Considers Hiking Discount Rate

Discussion in 'Technical Analysis' started by FXStreet_Team, Nov 23, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    Gold is facing continuing selling pressure as speculation mounts that the US Federal Reserve will hike the discount rate during a scheduled meeting late Monday. Any move by the Fed to raise the discount rate could be seen as highly bearish for the metal and signal the central bank’s direction in December. Gold remained under pressure over the past week as the speculation over future US monetary policy continues. Initially Gold was down early in the week but a lacklustre US Unemployment Claims

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