Goldie

Goldie

Gold / U.S. Dollar FOREXCOM:XAUUSD


Gold             is flashing red in Asia, possibly due to gains in the US dollar             – gold’s correlated enemy.
At press time, Gold             is trading at $1,225 – down 0.25 percent on the day – and the dollar index             ( DXY             ) is reporting a 0.20 percent gain.

Ahead of today’s key event risk, the latest FOMC monetary policy update, investors seemed reluctant to place any fresh bets and eventually did little to lend any support, or stall the ongoing slide.

Although the Fed is widely expected to leave interest rates unchanged, indications to raise interest rates for the fourth time this year in December might further collaborate towards driving flows away from Gold             .