Gold falls to 2-week low on potential fed rate hike
By Duncan Richardson, News Editor
22 Aug 2016
In the week ahead, traders will now shift their attention to Janet Yellen’s highly anticipated speech on Friday at the annual meeting of economists and central bankers. The meeting is the biggest monetary-policy meeting of the year and Yellen may use the opportunity to outline the Feds intentions for the upcoming year.
As the gold price tumbled Asian investors took the opportunity to stock up in the yellow metal ahead of the upcoming festival season in both India and China.
The silver price has also come under pressure dropping below $19.00 for the first since May.