Gold Falls Below $4,000 as Dollar Strengthens and Rate Hike Expectations Rise
Spot gold prices fell below $4,000 per ounce on 11 November in U. S. markets, as a stronger dollar and rising expectations of a Federal Reserve rate hike pressured the metal, Kitco reported. The decline followed a volatile week. On 6 November Kitco said gold and silver had risen on as a weaker dollar and falling crude oil prices lifted investor sentiment ahead of upcoming economic reports. The previous day Kitco noted that the metals gained in early trading, supported by a softer dollar and lower oil as hopes grew for a diplomatic resolution to the U. S. –Iran conflict. Moneycontrol.
com warned that gold and silver could face fresh pressure while investors awaited U. S. inflation figures and watched U. S. –Iran tensions. Earlier, Kitco highlighted that the U. S. Labor Department reported an addition of 165,000 jobs in October, far above expectations and influencing Fed policy outlook.
