Wednesday, June 8, 2016

Gold Market Update : Epic Research Singapore

Gold futures pulled back Tuesday from Monday’s two-week high to settle narrowly lower on the heels of a shift in expectations for a U.S. interest-rate increase.

The U.S. dollar has maintained a tight trading range after Fed Chairwoman Janet Yellen in a Monday speech revived expectations that the central bank wants to eventually unwind easy-money policies despite a weak May jobs report which showed that only 38,000 were created in the month.

Against a backdrop of uncertainty, August gold GCQ6, +0.27%  lost 40 cents to settle at $1,247 an ounce. Gold futures settled at $1,247.40 Monday, the highest finish since May 23.

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