Gold and silver smashed as U.S. dollar steadies
The gold price has fallen to its lowest level in three weeks on expectation the Federal Reserve may raise interest rates during their December meeting. Considering rates have been held at near zero for 7 years any upward expectation may prove to be misguided.
The gold price had gained momentum over the last month as economic data suggested the world economy is slowing and the possibility of further easing had been tabled by the ECB and the BOJ.
Even more surprising the gold price fell on the same day U.S Commerce Department reported GDP in the U.S. had fallen to ...