The Traderszone Network

Published in TZ Latest News 22 August, 2014 by The TZ Newswire Staff

Gold near two-month low; set for weekly drop on interest rate fears

Bullion was hit hard after minutes from the Fed’s July meeting on Wednesday showed policymakers debated whether interest rates should be raised earlier given a surprisingly strong job market recovery. Spot gold edged up 0.2 percent at $1,279.74 an ounce by 0626 GMT, near a two-month low of $1,273.06 hit on Thursday. Investors fear strong data would prompt the Fed to soon raise interest rates.