Gold futures edged lower Friday, erasing early gains amid uncertainty about the next move from the Federal Reserve.
While China cut interst rates and the European Central Bank is expected to offer stimulus in December, there is lingering speculation the Federal Reserve will finally hike rates before year’s end.
A rate hike from the Fed is likely to strengthen the dollar and subsequently weigh on commodities prices, especially gold.
December gold fell $3.30, or 0.3%, to settle at $1,162.80 an ounce on Comex — the lowest in two weeks.
Gold was down about 4.6 percent this week.
The material has been provided by InstaForex Company – www.instaforex.com