Gold continuing consecutive string of losses
- Published: Dec 28, 2016, 7 AM
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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