Gold Sets 9-Month Low After Silver Enters Bear Market on Dollar
- Gold tumbles to lowest since February, eroding 2016’s advance
- Fed seen hiking rates next month ahead of Trump taking office
What's Ahead for Gold in 2017?
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Gold is getting trampled, and silver entered a bear market.
Bullion sank to the lowest level since February on speculation that prospects for economy-boosting policies by U.S. President-elect Donald Trump will lead the Federal Reserve to raise interest rates. The dollar reached the highest level in more than a decade and U.S. equities hit new records. Silver fell for a second day after closing more than 20 percent below the Aug. 2 settlement.