Gold was trading near its lowest in a week on Wednesday, after sharp overnight losses, on speculation about further cuts to the U.S. Federal Reserve’s stimulus measures and an improving outlook for the global economy.
Spot gold was little changed at $1,242.19 an ounce by 0018 GMT, after falling nearly 1 percent on Tuesday on fears that Fed will announce a second cut to its bond purchases in its policy meeting next week.
The International Monetary Fund raised its global growth forecast for the first time in nearly two years, saying fading economic headwinds should permit advanced nations to pick up the mantle of growth from emerging markets.
This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.
Latest posts by marketpulsefxstaff (see all)
- Oil Remains Near Multi-Month Lows - 6 August 2015
- U.S. Dollar Higher on Recent Data - 6 August 2015
- Greece’s PM Tsipras: Loan Deal with Lenders Close - 6 August 2015