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16 Dec 2013
Rumors fuel 2-day golden gains
FXstreet.com (Chicago) – Gold trades stronger amid speculations on potential tapering announcements by the Federal Reserve later this week after Wednesday’s meetings.
Offered at $1,242.80, gold advances 0.66% so far today printing lows at $1,227.20 and highs at $1,251.70. The numerous speculations that circulate among market participants have enabled the futures contract to print advancements for the second time in a row ahead of Wall Street’s closing – also registering gains.
Although the opinions are divided and some argue there is a strong case not to taper this month, the empirical evidence and previous comments by Fed members incline the weight to an unchanged decision as economic results in the country have not been stellar.
Offered at $1,242.80, gold advances 0.66% so far today printing lows at $1,227.20 and highs at $1,251.70. The numerous speculations that circulate among market participants have enabled the futures contract to print advancements for the second time in a row ahead of Wall Street’s closing – also registering gains.
Although the opinions are divided and some argue there is a strong case not to taper this month, the empirical evidence and previous comments by Fed members incline the weight to an unchanged decision as economic results in the country have not been stellar.