Gold Prices Remained Weaker From The Beginning Of The Week

Gold prices remained weaker from the beginning of the week after U.S. lawmakers agreed on a spending package to avert a U.S. government shutdown and the Nasdaq share index reached a record high.

Additionally, investors awaited the outcome of atwo-day U.S. Federal Reserve policy meeting on Wednesday.

We believe that if the Fed signals further rate increases and shrinking of the balance sheet tomorrow and then we get a good jobs number on Friday gold prices by the end the week could move below $1,250, and maybe closer to $1,240 levels.

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Gold prices remained weaker from the beginning of the week after U.S. lawmakers agreed on a spending package to avert a U.S. government shutdown and the Nasdaq share index reached a record high.
Additionally, investors awaited the outcome of atwo-day U.S. Federal Reserve policy meeting on Wednesday.
We believe that if the Fed signals further rate increases and shrinking of the balance sheet tomorrow and then we get a good jobs number on Friday gold prices by the end the week could move below $1,250, and maybe closer to $1,240 levels.
- See more at: http://www.investmentguruindia.com/CommoditiesReports/The-Gold-Junecontract-open-interestrose-by-324-from-theprevious-day---Reliance-Sec#sthash.jgQKH6no.dpuf