Gold price and cost, page-13

From CNBC below. Have we reached the bottom in $US POG? Time will tell - we should see Goldie’s do well on Monday! I always expected the Fed to pivot at some stage but not to next year - maybe they will do so earlier.

“Gold prices posted modest gains for the week, rising more than 1% on Friday as the dollar weakened amid reports of a potential debate amongst the U.S. Federal Reserve officials about the pace of rate hikes.

Spot gold was up 1.64% at $1,654.41. U.S. gold futures settled up 1.2% to $1,656.3.

The WSJ reported that Fed officials were barrelling toward another interest-rate rise of 0.75 percentage point in November, while some have begun signaling their desire to slow down the pace of increases soon.

“The Wall Street Journal article which mentions the pace of rate hikes is being given a lot of share of mind for (market)participants,” said Daniel Ghali, commodity strategist at TD Securities.”