Gold fell the most in two months as Secretary of State John Kerry said the U.S. will explore a Russian plan to eliminate Syria’s chemical weapons in a bid to diffuse a potential military strike. Silver dropped 3 percent.
Senate Majority Leader Harry Reid said diplomatic efforts to persuade Syria to surrender its chemical weapons should be given time to work, and a bipartisan group of senators is drafting an alternative to the proposal authorizing a U.S. military strike. Gold also dropped on speculation that the Federal Reserve will cut U.S. monetary stimulus soon, eroding the metal’s appeal as an alternative investment.
via Bloomberg
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Alfonso Esparza
trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
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