Gold futures are trading lower by $17.70 at $1086.50 in Friday's session. A potential hike in interest in December has investors abandoning Gold as an alternative investment.
Early on in after-hours trading, the contact found resistance ahead of Thursday's high ($1111.30), only reaching $1109.70 before turning lower. The ensuing decline has taken Gold to $1084.50 and it is attempting to rebound. The current low coincides with pair of lows from August 6 ($1082.70) and August 7 ($1081.40).
Joel Elconin is the co-host of Benzinga's #PreMarket Prep, a daily trading idea radio show.
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