As gold slips to a seven-week low, with Comex futures for delivery in January dropping $6.70 to $1,088.70, Adrian Ash at Bullion Vault has a nice rundown of some of the factors tipping the precious metal. He notes market strategist Marc Faber expects more central banks to follow India’s example and gather reserves of Gold, which would be a good thing for the metal.
As gold sinks, the dollar is on the move with today’s lower-than-expected read on Q3 U.S. GDP. ICE U.S. Dollar Index Futures are up 0.16% at 78.55.
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