OctaFX | OctaFX Forex Broker
Open trading account
Back

Gold posts fourth weekly loss in a row

FXStreet (Córdoba) - Gold prices edged a tad lower on Friday and posted a fourth consecutive weekly loss, the worst negative streak since the June-July drop, amid increasing expectations the Federal Reserve will raise rates at its next meeting.

Gold hit its lowest intraday level since Feb 2010 near $1,073 on Thursday and settled down 0.5% at a 5-year low of $1,080 on Friday. The yellow metal also recorded its tenth daily loss out of the last twelve trading days.

On Friday, a mixed bag of US data did little to temper dollar broader positive trend as more FOMC members continue to advocate for December’s lift-off.

US inventories positive for Q3 GDP revision – Wells Fargo

According to economists from Wells Fargo today’s inventories numbers support an upside revision for US Q3 GDP.
Read more Previous

AUD/USD posts weekly gains for the first time in a month

The Aussie was among the top performers in the currency market during the last five days, supported by strong economic data from Australia that removed expectation of another rate cut by the RBA.
Read more Next
Start livechat