Gold prices barely moved for a second day Tuesday, unable to trim last week’s big losses amid uncertainty about the Federal Reserve’s next move on interest rates.
Dec. gold settled at $1,088.50/oz on Comex, up 40 cents on the day.
Proir to yesterday’s scant gains, gold prices dropped for seven days in a row.
Traders await a speech from dovish Chicago Federal Reserve Bank President Charles Evans, who speaks on a panel at 2:30 pm ET.
If Evans hints that a rate hike is imminent, gold prices should fall further.
The material has been provided by InstaForex Company – www.instaforex.com