Gold price slides back as dollar gains

The spot rate gold price has dipped back to $1,122.10 per ounce thanks to the continuing resurgence of the dollar. The dollar has improved slowly but steadily in recent weeks as it becomes more likely the Fed will raise interest rates sometime in the next several months.
Gold prices fell sharply in early morning New York Mercantile Exchange, briefly dipping below $1,120. This after a close of $1,137.60 on January 19th. The dollar is the major catalyst as it has also made strides against other major currencies Wednesday …Forex Rate – Forex and Exchange rates

Be Sociable, Share!

•