Gold futures continued to fall Monday as stocks zoomed to fresh record highs, denting the rare-earth element’s safe house appeal.
With danger cravings soaring, Dec. gold was down $14.40, or 1.1%, to settle at $1,310.80/ oz. Gold has dropped five sessions in the previous six.
Traders expect a fairly hawkish declaration from the Federal Reserve in its rates of interest choice Wednesday.
Reflecting issues about the current hurricanes, the National Association of House Builders released a report on Monday showing a bigger than anticipated drop in U.S. homebuilder self-confidence in the month of September.
The report stated the NAHB/Wells Fargo Housing Market Index dropped to 64 in September from a downwardly revised 67 in August.
The material has been offered by InstaForex Business – www.instaforex.com