The Federal Reserve announced it will begin tapering it's $85 billion a month quantitative easing program beginning in January as the labor market has shown improvements.
Commodity investments are heading for record outflows driven by withdrawals from gold exchange-traded funds as some investors lost faith in the traditional store of value, according to Barclays Plc.
According to the technicals that I like to use, the long-term trend in gold is still in play. Fundamentally, COMEX gold futures fell to $1,210/ounce on Dec. 6, 2014 and since then we have seen somewhat of a bounce higher.
An extension of U.S. agriculture subsidies to late January was rebuffed by Senate Democrats, who said they won’t pass any plan sent to them by the House before the members leave Washington late this week.