A gauge of dollar is on course for its longest winning streak since July, weighing on commodities including gold that are priced in the greenback. Still, bullion has staged a power advance since late August as investors bet on further easy money by the Fed. Despite its recent steep declines, the precious metal is still up more than 50 per cent this year. Any changes in the Fed’s rate path may derail bullion’s price rally as higher rates are typically negative for the non-yielding metal.
Gold slumps as U.S. dollar pushes higher and traders mull rate outlook
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