Weekly Fundamentals – Gold’s Weakness to Persist as Fed Hikes Rates

Gold remained under pressure last week, with the benchmark Comex contract dropping -1.88% on weekly basis. Indeed, the yellow metal has been in a downtrend for 6 consecutive months, losing -11.22% in total. The key driver for gold’s weakness has been heightening speculations for Fed funds rate hike in December. The US dollar index rose +6% during the period.

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Weekly Fundamentals – Gold’s Weakness to Persist as Fed Hikes Rates