Gold Takes it on the Chin After FOMC Minutes
COMEX gold futures are trading lower on Wednesday following a sharp drop on Tuesday, when Federal Reserve Minutes showed that some policymakers are pushing for an interest rate hike sooner than the expected date of mid-2015. The US Dollar rallied sharply in reaction to the Fed minutes, reaching the
Dollar Retreats After Jobless Claims Miss Expectations
The US Department of Labor reported on Thursday that seasonaly adjusted jobless claims increased by 21k to 311K for the week ending on August 9th. The figure marked a six week high in claims for unemployment benefits and missed analyst expectations of 295K. The prior week’s figure was revised higher to 290K from 289K.
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