Equity world-The price of gold ended flat at the end of trading Tuesday on Wednesday (01/11) after the dollar rebound, despite worries over prospects for the US election and the policies of the Federal Reserve still continue to put this precious metals near three-week high in the previous session.
The price of spot gold flat, thin ride LLG 0.07 percent on $ 1, 276.40 an ounce. Versus the price of gold futures for December delivery settled at $ 1, 273.10 per ounce. But spot prices remain in pisisi near the highs reached on Friday. During the month of October, the price of gold was still slumped about 3 percent.
The decline is largely due to the U.S. dollar climbed to a high of 2.5 months at the beginning of this month. Precious metal reached the highest since 4 October on Friday after the Federal Bureau of Investigation (FBI) announced another investigation against democratic presidential candidate Hillary Clinton related a personal email server when he served as Minister of Foreign Affairs.
That shook the markets have priced in a victory of Clinton over Republican Donald Trump, prompting losses in stocks and the dollar. A rebound in the US currency on Monday pull gold from last week’s highs. While it’s almost nothing the Fed Chairman memperkiakan Janet Yellen and other Fed policy makers move just a week before the election on 8 November, it seems most likely in December, giving a rise of interest rates by 2016.
Gold is highly sensitive to U.S. interest rate hikes, which increases the opportunity cost of holding gold while the dollar’s rise. Speculators raised their net long position in COMEX gold for the first time in four weeks in the week to October 25, and memotongn a little silver, a record the U.S. Commodity Futures Trading Commission showed on Friday. Among other precious metals, silver 0.3 per cent higher at $ 17.79 per ounce but still on track to enter the monthly decline.
Platinum down 0.1 per cent at $ 978 and is set to record a third consecutive monthly decline, while Palladium, down 0.4 percent on $ 616.80, the largest monthly decline was heading since November, down 14 percent.
Analyst Equity Research Center estimated the price of gold on the next trade potentially bullish sentiment triggered various ride with FBI investigations against Hillary Clinton emails and a weakening of the Wall Street stock exchange. The price is estimated to be moving in the range of Resistance 1.278-$ 1.280, while if prices fall will move in a range of Support $ 1.274-$ 1.272.