Gold futures settle at lowest level in more than a week

Gold prices settled Monday at their lowest level in more than a week as investors braced for Wednesday’s U.S. interest-rate decision by Federal Reserve policy makers.

The recent plunge in oil prices CLF6, -0.30%  has also helped to pressure gold prices, which lost 0.8% last week, as cheaper oil chips away at the appeal of gold as an inflation hedge.

Gold for February delivery GCF6, +0.02%  fell $12.30, or 1.1%, to $1,063.40 an ounce on Comex, the lowest settlement since Dec. 3. Prices had settled at a near-six-year low under $1,054 on Dec. 2.

Silver futures, meanwhile, settled at their lowest level since July 2009, with March silver SIH6, -0.04% down 18.9 cents, or 1.4%, to settle $13.695 an ounce. Prices for the metal lost 4.4% last week.

For Free Signals and other KLSE online updates, click here OR Give A Missed Call : +60350219047 Follow Us On Twitter : www.twitter.com/epicresearchmy Like Us On Facebook : www.facebook.com/EpicResearchMalaysia Need Any Assistance Feel Free To Mail Us at : info@epicresearch.my