Gold price is looking to extend the previous week’s downtrend, sitting at weekly lows near $2,150 in Asian trading on Monday.
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2% increase forecast while Industrial Production increased 7.0%, compared with estimates of a 5.0% growth. Fixed asset investment rose by 4.2%, beating the forecast of 3.2%. Uncertainty around the Fed policy announcements and the Dot Plot chart keeps Gold buyers on the defensive, as investors scout for some assurance in the US Dollar. In the meantime, Gold price could remain at the mercy of risk trends and the Fed expectations.
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