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International gold prices fall to 5.5-year low

International gold prices fall to 5.5-year low

the international spot gold on Thursday (November 12), once broke in early July, US 5.5 gold created by low Gold 5.5-year low refresh to 1074.11 dollars an ounce.  Subsequently fluctuated, and closed at $ 1084.90/Oz, this is the gold fell for nine consecutive trading days.

Fed rate hike expected to further heat up the market more nervous. Thursday's United States initial claims for State unemployment benefits for the 36th week of less than 300,000 people, shows United States labour market recovery is still very solid. On Friday United States payrolls reported unexpectedly sharp than expected, labour market recovery as officials shift as well as the main driver of the dollar's recent rise.

markets think the Fed policy meeting in December and start raising interest rates for the first time in nearly 10 years of expectations, which put pressure on gold continues.  Significant increase in the Fed's willingness to raise interest rates, putting some pressure on gold market, higher interest rates will increase the opportunity cost of holding a zero-interest-bearing assets in gold, reduces their attractiveness to investors.

HSBC expects the price of gold could drop to between 1025 and 1050 dollars an ounce level, is expected to average $ 1160 per oz of gold this year, but he also believes that at levels below 1100, physical gold demand in emerging markets will increase.

 

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