Gold News: Gold Shows Slight Rebound But May Not Last
In the latest gold news: As of February 12 at approximately 2:16pm EST, gold was trading at $1323.57 per ounce
In the latest gold news: As of February 12 at approximately 2:16pm EST, gold was trading at $1323.57 per ounce
In the latest gold news: As of February 5 at approximately 12:22pm EST, gold was trading at $1336.40 per ounce
In the latest gold news: As of November 06 at 9:07am EST, gold was trading at $1271.66 per ounce
Futures of the precious metal, gold, fell for an eighth-straight daily drop.
Gold settled at a second straight weekly loss, as the expectation for an increase of U.S. interest rates as early as next month grew.
On Wednesday gold looked like it would take the announcement badly, the first US interest rate hike in nine years. On Thursday, the metal got hit. Today, it’s bouncing back.
Last Thursday, Gold traded slightly lower near 5-1/2- year low on amid interest rate hike prospects from the Fed.
Disappointing economic data over the last couple of weeks mean the US economic recovery might have hit a snag, and the Fed now might wait to raise interest rates until later this year, if in 2015 at all.