Gold, Silver Fall Most in a Week on Dollar Rally, Fed Outlook
The greenback rose for the fifth time in six sessions against a basket of 10 major currencies as government data showed the U.S. trade deficit shrank more than forecast in November. Tomorrow, the Federal Open Market Committee will release minutes of last month’s meeting, when they decided to taper asset purchases. “People want to know how serious the Fed is about easing, and tomorrow more details will come out,” Bart Melek, the head of commodity strategy at TD Securities in Toronto, said in a telephone interview. “The dollar strength is also working against gold.”