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Gold price tests $4,000 floor before divisive Fed decision, silver in bear clutches
['Frik Els']
MINING.COM
Spot gold slipped 1.5% to $4,015.17 as of 10:21 a.m. in New York.
Platinum and palladium also traded lower, and the Bloomberg Dollar Spot Index was steady.
Citadel Securities expects a hike this week, arguing the move would strengthen Fed chair Kevin Warsh’s credibility in his battle with inflation.
Fresnillo was the exception, up 2.9% in US trading after lifting its gold forecast on a strong first half.
For the year to date Equinox Gold is down 35%, Gold Fields 26%, Alamos Gold 26%, Hecla 25% and Fresnillo 24%, while Barrick has shed 16%, Kinross 17% and Agnico 14%.