Cautious market sentiment is dampening the rise in gold prices.
Following the conclusion of the UN General Assembly and the meeting between the Chinese and US leaders—two major recent market focuses—the situation in Iran has neither improved nor worsened, but has simply become more stalemated. Because of this situation, US crude oil prices remain hovering around $90 per barrel, a still relatively high level. This is unlikely to alleviate investor concerns about the possibility of a Federal Reserve rate hike in October. Therefore, the direction of interest rates should suppress… … »Cautious market sentiment is dampening the rise in gold prices.