GOLD at Interesting levels – The dollar has continued to find demand, posting gains versus the euro, yen, sterling and Australian dollar, among other currencies. Gold fell to 1.5 month lows of $1,268, weighed down by a firmer dollar, higher Treasury yields, and prospects for a December Fed rate hike. Another weekend with no N. Korea missile/nuclear antics has also taken some bid out of the contract. Meanwhile, the Australian dollar came under some pressure after the RBA left policy on hold, as was widely expected, but as the accompanying statement of Governor Lowe remained non committal in tone, acknowledging improving economic growth but reaffirming that the inflation outlook remains subdued.
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