Sterling stum­bles into Q4, Gold dims

Financial Mirror (Cyprus) - - FRONT PAGE -

Gold lost some of its glim­mer on Mon­day, as in­vestors en­tered the fi­nal trad­ing quar­ter of 2017 with a risk-on at­ti­tude.

The down­side was com­ple­mented by a strength­en­ing US Dol­lar and ex­pec­ta­tions of higher US in­ter­est rates, which en­cour­aged bears to in­stall fresh rounds of sell­ing. With the yel­low metal achiev­ing a monthly close be­low $1,300, Q4 could be the quar­ter in which bears make a se­ri­ous move to drag prices to back to­wards $1,240, and po­ten­tially even lower.

From a

tech­ni­cal

stand­point, Gold

is

bear­ish on the weekly time­frame. The break­down be­low $1,280 should en­cour­age a de­cline to­wards $1267 this week.

Mar­kets Re­port b

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