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Gold moves off Friday’s lows

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Oct 26, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    FXStreet (Córdoba) - Gold prices edged slightly higher on Monday as the greenback weakened across the board following another round of disappointing US data as investors gear up for the Federal Reserve policy decision on Wednesday.

    Greenback weakness intensified, underpinning the yellow metal, after data showed that the pace of new homes sales in the US plunged 11.5% in September to a 10-month low.

    Gold rose to a daily high of around $1,170 an ounce but lacked momentum to extend gains and settled in a range over the last hours. Gold is recovering from a 10-day low scored on Friday.
    For more information, read our latest forex news.
     

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