Gold Trading Price - Gold prices plummeted to the lowest point in the 4-week Wednesday yesterday, as anxiety over a potential interest rate hike sparked profit taking action so that investors in precious metals. Gold has touched the lowest level since July 27 on trading session yesterday.
The market is still waiting for the event on Friday for seeking guidance over a potential interest rate hike the next, followed by a schedule of speeches the Governor Janet Yellen at Fed Symposium in Jackson Hole, with odds of Yellen would follow Netanyahu's tone of The Fed officials such as Dudley and Fischer earlier. Last week's FOMC minutes showed the central bank's policy direction is still not achieve unanimity, but some influential FOMC officials reflect Netanyahu's bias, so Jack up the performance of the Dollar.
The strengthening Dollar hurt the price of gold, because gold didenominasi pegged to the U.S. currency became more expensive for Foreign buyers along with the rise of the U.S. Dollar.