Gold Flat As US Data Driving USD

Gold prices lost their early, modest gains in late-morning trading Tuesday.

A couple of upbeat U.S. economic reports helped to pressure the yellow metal. Such bolsters notions the U.S. Federal Reserve will move to raise interest rates sooner rather than later. Very easy U.S. monetary policy the past several years has been a bullish underlying element for the precious metals markets. Also, it appears the geopolitical tensions worldwide have moved to the back burner of the market place…for now, which has limited buying interest in safe-haven gold. December gold futures were last down $4.40 an ounce at $1,283.30.

via Kitco

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.

Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza