Flash: Gold plunges of taper expectations - UOB Group

FXstreet.com (Barcelona) - Market Strategists at UOB Group note that Gold plunged after mixed US economic data lifted the dollar and stoked expectations that the Fed could reduce its huge stimulus program as early as next week.

Key Quotes

“The Comex gold December contract settled at $1226.00/oz.”

“Meanwhile, oil firmed modestly on the strong retail sales data, with gains constrained by the firmer dollar, the surge in jobless claims and slightly weaker Wall Street.”

“The prompt-month NYMEX crude futures contract ended at $97.50/bbl.”