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Gold prices fell to a three-week low hit nine weeks biggest weekly drop

Gold on Friday (October 30) fell to a three-week low, extending the decline in the previous two days, is going to be registered the biggest weekly decline since August, thanks to the Federal Reserve may still raise interest rates during the year.

at the end of the Federal Reserve after a two-day meeting suggested that interest may still rise in the December meeting, pressed a series of weak economic data and concerns about the global economy will likely rate hike speculation postponed until 2016. Macquarie analyst Matthew Turner says, "our economists now expect the Fed raise rates in December, to make the expectations come true, we have seen some reasonable economic data, indicates that no new round economic growth slowdown, and some other market indexes, such as federal funds futures have more interest rate expectations. Higher interest rates dragged down the price of gold fell. "

19:23 GMT, spot gold fell 0.4% to $ 1,141 a Troy ounce. $ 36, fell to 1,139. $ 11 the lowest level since October 9, slightly higher than the 100-day moving average line in October, is expected to take up 2.4%. United States December gold fell 0.5% to $ 1,141 a Troy ounce. $ 40. RJO futures brokerages Eli Tesfaye, a senior market strategist in Chicago, "said gold in this downward trend will likely test $ 1130. "

while the dollar index fell 0.7%, gold has dropped, usually the dollar supported gold. Japan's Central Bank kept its monetary policy unchanged after a stronger yen. Silver prices rose 7% this month, is going to be registered the biggest monthly gain since January.

spot silver fell 0.2% to $ 15.53 dollars an ounce. Gold Silver ratio, which measure the amount of silver you can buy an ounce of gold on Friday rose to 73.8, from a four-month low hit earlier this month further pick-up in 71.3 level. Platinum was down 0.8% at $ 981.75 per ounce, Palladium rose 0.7% $ 672.75 a Troy ounce. Jin Bajin Platinum exchange-traded fund since 2010 biggest monthly outflow, the difference in price earlier this year fell to multiyear lows.

 

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