The end of the session on Thursday, December gold contract down 7.10 USD (the equivalent of 0.6%) down 1, 266.40 USD/oz, which marked the fourth consecutive session of decline down to the lowest level since October 24, 2016, data from FactSet shows.According to CNBC, also on Thursday, the contract of gold for immediate delivery back 0.95 percent down to 1, 265.66 USD/oz.On Thursday, the dollar index (ICE U.S. Dollar Index)-a measure of the dollar versus other major currencies 6-Advanced 0.3 percent to 98.75 after the highest level during the session at 99.08. U.s. stocks fall on the State, in which the Dow Jones was up record level. Gold often move mixed with the dollar and equities.As expected, the U.S. Federal Reserve (Fed) will convene on September 13-14/12/2016.If the Fed raising interest rates at its meeting in December 2016 although this possibility is not sure, then this can cause pressure on the gold price. Precious metals do not bring profit, so the interest rate increase will reduce the opportunity cost of holding gold.Known, BNP predicts gold prices will reach $1.255 turn/oz and 1.130 USD/oz in 2016 and 2017. Silver prices will reach 17.45 USD/oz in 2016 and 16.30 USD/oz in 2017.
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