Gold News Update

Gold prices were lower on Friday, as the U.S. dollar rose in anticipation of a Federal Reserve rate hike next week.Comex Gold Feature for February delivery slumped 0.3% to $1,242.95 a troy ounce as of 4:51 AM ET (9:51 GMT).The price of bullion was pushed lower by a stronger greenback. The Fed is expected to increase rates by 25 basis points at its next meeting on Wednesday, its fourth rate hike this year.Chances of a hike are priced in at 79.2%, according to Investing.com’s Dollar gains are likely to be short lived however, as the central bank is expected to slow down its pace of rate hikes in 2019.

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