Gold futures slip as a stronger U.S. dollar weighs on prices
Gold futures fell toward the December contract’s 50-day moving average near $4,402.40, after a prior test of the 200-day level. Bob Iaccino cites dollar safe-haven flows and inflation/rate-hike headwinds.
Bob Iaccino of Path Trading Partners said gold futures have been under pressure as prices probe key moving averages. 40 after last week’s test of the 200-day moving average. S. dollar rather than gold, while rising energy costs are adding to inflation concerns ahead of the upcoming Federal Reserve meeting.
4%, adding further pressure on non-yielding bullion.