Precious Metal’s Slide: Russia, China Jump at Golden Opportunity

Tuesday, December 6, 2016
By Paul Martin

SputnikNews.com
06.12.2016

While experts predict that gold prices will continue to slide in 2017, Russia and China are increasing their holdings of the precious metal at a growing pace. What lies behind this gold-buying spree?

Gold is facing a back-to-back slump: the yellow metal’s prices fell for the second time on Tuesday.

“Gold prices have now erased 10 months of gains after posting their biggest monthly drop in more than three years, with Donald Trump’s election to the US presidency only exacerbating a cocktail of negatives for the metal,” Reuters reported Monday.

MarketWatch.com echoed the media outlet highlighting that “the likelihood of a Federal Reserve interest-rate hike next week” and a stronger dollar in 2017 may cut demand for the precious metal.

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