Gold poised to maintain its streak of consecutive weekly losses

Reports indicate continuing downward trend
By , Coin World
Published : 12/28/16
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Bloomberg News reports gold's performance is maintaining a string of consecutive weekly declines in price counting from early November. The stretch is gold's longest period of decline in more than a year.

The news comes amid indications the Federal Reserve may raise interest rates three times during calendar year 2017 after announcing a small rate hike the week before Christmas.

Investors, according to Bloomberg News, are selling their holdings in exchange-traded funds backed by the precious metal.

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