Gold Facing Pressure as FOMC Rate Hike Looms

Discussion in 'Technical Analysis' started by FXStreet_Team, Dec 15, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
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    The week ahead is likely to be volatile for Gold but the question remains as to what extent a potential US rate hike has already been priced in. Gold came under pressure early in the week as FOMC member Bullard’s speech further fuelled the case for a rate hike. In addition, US Core Retail Sales and PPI were also buoyant at 0.4% and 0.3% m/m respectively. Subsequently, Gold was sold off strongly as capital fled the metal for other safe havens. However, the slide was arrested by a weaker than

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