Home / gold / “Yahoo Finance” : Gold Prices Slide Down the Slope of Despair : 2017-03-09

“Yahoo Finance” : Gold Prices Slide Down the Slope of Despair : 2017-03-09

according to Gold Prices Slide Down the Slope of Despair MoreChart prepared by James StanleySupport could be a challenge here given that prices have been dropping like they’re attached to an anvil.
Gold Prices Slide Down the Slope of Despair MoreChart prepared by James StanleySince then, Gold prices have gotten crushed; moving from a swing-high above $1,250 just a week ago to below $1,210 as of this writing to tally a total move of -3.3% in a single week.
Gold prices have been in retreat over the past week as odds for a March rate hike from the Fed have flown-higher.
Previously, it didn’t’ appear as though Gold prices were buying the Fed’s rate hike plans.
At the time, rate hike expectations for the United States were steadily increasing for the upcoming March meeting, taking place next Wednesday.

Gold Suffers Worst Run Since October as Slide Below $1,200 Looms

Gold Suffers Worst Run Since October as Slide Below $1,200 Looms*/

as informed in Better-than-expected U.S. private jobs data this week also boosted the dollar before official payrolls figures on Friday.
Gold is sliding toward $1,200 an ounce in its longest losing run since October as positive U.S. economic figures reinforce expectations that yields on other investments will rise this year.
While economists see U.S. non-farm payrolls declining, possibly supporting gold, their projections have underestimated employment growth in February for five years in a row.
“That could hurt gold.”After the Fed raised rates once in 2015 and again in 2016, the pace may quicken this year.
A stronger dollar makes gold costlier for those with other currencies.

Gold Prices Slide Down the Slope of Despair

Gold Prices Slide Down the Slope of Despair*/

as informed in Gold prices have been in retreat over the past week as odds for a March rate hike from the Fed have flown-higher.
Previously, it didn’t’ appear as though Gold prices were buying the Fed’s rate hike plans.
At the time, rate hike expectations for the United States were steadily increasing for the upcoming March meeting, taking place next Wednesday.
To be sure, there is prime motivation for such a theme which is likely why we’ve seen such little respect of support as Gold prices have been on the way down.
$1,200.51 is a big level as the 38.2% retracement of the ‘big picture’ move in Gold prices, taking the Bretton Woods fix of $35/oz up to the 2011 high at $1,920.

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