Fundamental and News:

Gold prices are struggling due to U.S. yields and have potential to fall further, but a recovery for the metal is coming, says ABN Amro.

“The rally in gold, silver and platinum prices came to a halt on 8 September mainly because U.S. real yields bottomed out, which has provided support to the U.S. dollar,” said Georgette Boele, a senior precious-metals analyst for ABN Amro, in a report Thursday.

“In the coming days and weeks, we expect the U.S. dollar to continue to recover, which will probably weigh on gold, silver and platinum prices….Gold prices could decline towards $1,250 per ounce, which will be close to the 200-day moving average.”

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