‘Gold ends at 2-month low as Fed comments fuel dollar’s climb’ @investorseurope #gold

Gold futures settle at their lowest level in more than two months as comments from the Federal Reserve’s vice chairman raised the prospects for an interest-rate increase in the coming months—feeding a rise in the U.S. dollar.

Source: investorseurope.ooo

“We believe there is over an 80% chance that the Fed will increase the interest rate one more time this year,” said Naeem Aslam, chief market analyst with ThinkMarkets. “If the U.S. [nonfarm payrolls] number shows a solid reading on Friday, we are expecting September to become more volatile and as of now, there is roughly a 35% chance that the Fed could increase the rate.”

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