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Gold daily update for 27th September 2017

BY DEB SHAW | 

Gold prices have fallen sharply, thanks to both indications that the Federal Reserve is set to raise rates later this year and lower tensions in the Korean Peninsula. Yesterday, Federal Reserve Chair Yellen suggested that interest rate hikes were likely in the future, despite inflation remaining below 2%. This led to an appreciation in the dollar and a sell-off in gold. Looking at geopolitical risks, tensions are subsiding following Trump's conciliatory remarks. The President recently thanked China for its efforts in reigning in North Korea - China has instructed its banks to end all relationships with North Korean individuals and institutions. 

After its most recent peak close to $1,310, gold is now trading under $1,300. The precious metal is currently trading close to $1,288 after falling as low as $1,285 earlier today. Our short-term and medium-term outlook on gold remains bearish.

Updated 
Outlook
Bearish

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