"Gold could easily go up to the $850 mark on the rate cut,'' said Cailey Barker, an analyst at Royal Bank of Canada Europe Ltd. in London.
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Gold Eased On Dollar Strength
Gold fell in London as the dollar rebounded
Gold fell in London as the dollar rebounded, stalling demand for the metal as an alternative investment. Platinum also dropped.
Gold for immediate delivery dropped $3.44, or 0.4 percent, to $805.09 an ounce as of 11:35 a.m. in London.
"Gold could easily go up to the $850 mark on the rate cut,'' said Cailey Barker, an analyst at Royal Bank of Canada Europe Ltd. in London.
"Gold could easily go up to the $850 mark on the rate cut,'' said Cailey Barker, an analyst at Royal Bank of Canada Europe Ltd. in London.
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