Gold price slips, pauses longest winning streak since 2014

January 4, 2018

London (Jan 4)  Gold prices slipped Thursday, snapping a nine-session run that had been longest winning streak for the metal’s futures market in nearly three years.

February gold GCG8, -0.33% was off $3.80, or 0.3%, to $1,314.70 an ounce, a reversal that began in Wednesday’s after-hours following the release of Federal Reserve meeting minutes. Futures prices logged their highest settlement since Sept. 15, at $1,318.50, on Wednesday. The ninth-consecutive session of gains was the longest such streak of gains since February 2014.

The exchange-traded SPDR Gold Trust GLD, -0.26%  slipped 0.2% premarket Thursday, while the VanEck Vectors Gold Miners ETF GDX, -1.05% was down 0.3%.

Gold paused its rally even as the ICE U.S. Dollar Index DXY, -0.32% fell 0.3% to trade back at its lowest in about three months.

Gold prices had turned south in electronic trading Wednesday after the release of minutes from the U.S. Federal Reserve’s December monetary policy meeting, which revealed a sharp divide among officials over the central bank’s forecast for three interest-rate hikes this year.


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