A few snippets from ANZ
- "Gold prices suffered under the weight of the stronger U.S. dollar. Investors' appetites has been relatively weak as the currency has rebounded amid reports that President Donald Trump was close to announcing tax cuts
- However, investors also remain cautious ahead of Trump's announcement of a new chair for the Fed, as well as their monthly interest rate meeting."
Also, via National Australia Bank:
- (on the FOMC) "A rate hike in December is largely priced into markets. However, investors are looking for the Fed stance on monetary policy: in particular, the inflation outlook and how the Federal Reserve wishes to respond
- In other words, whether they are likely to adopt a 'wait and see' mode, or get ahead of the curve. The latter will, of course, be negative for gold"
via Reuters
