Gold ends week little changed, clinging to mid $1,900, despite hawkish Fed
Investing.com — Gold prices ended the week little changed, rebounding from a one-week low, as markets continued their debate on whether the Federal Reserve’s final rate hike for the year would be in November or December.
“Weakening global growth prospects are starting to attract some safe-haven flows towards bullion,” Ed Moya, analyst at online trading platform OANDA, said. “Gold has shown that the $1,900 level was a major line in the sand and now it appears to be poised to consolidate around the $1,950 level.”, settled up $6, or 0.3%, at $1945.60 an ounce. For the week, it closed virtually flat, down 0.03%.was at $1,925.01 by 15:10 ET .
“For gold to move back above the $2,000 level, investors will need to see major dollar weakness, which will be driven by evidence that the labor market is breaking,” Moya said.
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