Dealing Desk: Precious Metals Waver in an Uncertain Market

(Before It's News)

by Kelly-Ann Kearsey
Gold Money

The spectre of a US interest rate hike has come to the fore again this week, pushing the gold price in the opposite direction of the rising dollar.

Kelly-Ann Kearsey, Dealing Manager at GoldMoney, says it’s the same obsession which has ruled the market all year, “Will they, won’t they, and when? Markets have been waiting for the US Federal Reserve to increase interest rates for what seems like an eternity. The last meeting saw rates staying the same amid worries that a hike might impact on the more fragile Chinese and emerging market economies, but with further positive data coming out of the US; analysts say it can’t be long before rates will have to rise there.

“Today’s better than expected employment data together with the soft jewellery demand from India has impinged on price, but, overall, gold has more or less balanced out in terms of buying and selling this week among our GoldMoney customers.

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