Today, Bullion has been under pressure recently as expectations for a December rate hike in the United States strengthened after a robust nonfarm payrolls report earlier current month.
Yesterday, Fed officials lined up behind a likely December interest rate increase with one key central banker saying the risk of waiting too long was now roughly in balance with the risk of moving too soon to normalize rates after seven years near zero.Higher rates could dent demand for non-yielding gold, while boosting the dollar. Traders will be eyeing United States data due later in the day, including retail sales, to gauge the strength of the economy & its impact on the Fed's monetary policy.
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