Thursday, 4 January 2018

Gold prices drop as dollar firms@Highlight Research Update

Gold prices fell on Thursday after hitting a 3-1/2-month high the session before, pulled down as investors took profits and as the U.S. dollar firmed.
Spot gold was down 0.4 percent at $1,306.72 an ounce at 0333 GMT. U.S. gold futures dropped 0.8 percent to $1,307.80 an ounce.
Spot gold marked its highest since Sept. 15 at $1,321.33 on Wednesday, but then dropped as the dollar recovered from over 3-month lows. It fell further after minutes from the Federal Reserve's December policy bolstered expectations for more U.S. interest rate hikes.
That meant that gold, which had rallied $85 from nearly 5-month lows hit in mid-December, posted its first day of losses in nearly three weeks.
"People are looking to lock in some gains after a pretty strong rally over the past weeks," said ANZ analyst Daniel Hynes.

MCX CALL: BUY ZINC ABOVE 212.30 TARGETS 212.80 / 213.40 / 214.10 STOPLOSS 211.55 

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