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Gold Ends Near Unchanged On The Day; Crude Oil Woes Keep Raw Commodity Bulls Leery

Gold prices ended the U.S. day session near steady in choppy, two-sided trade Wednesday.

December To Be A ‘Historic’ Moment For Federal Reserve – Capital Economics

The U.S. economy is on the cusp of a shift in monetary policy. In less than one week, it is expected that the Federal Reserve will raise interest rates for the first time in more than nine years.

There Are Still Good Reasons To Be Bearish On Gold In 2016 – Bank of America

Gold prices are expected to feel more pain in 2016, at least in the first half of the year, however rising inflation in the second half should be supportive for the beleaguered market, according to Bank of America Merrill Lynch.

Gold Slips Below Unchanged on More Technical Selling Pressure

Gold prices have weakened and fallen to slightly lower levels in late-morning dealings Wednesday, giving up modest early gains.

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Freeport Suspends Dividend, Announces More Output Cuts

Freeport-McMoRan Inc. (NYSE: FCX) is suspending its dividend and cutting copper and molybdenum production further, including the shutdown of a mine in Arizona, the company announced Wednesday.

Gold Firmer as U.S. Dollar Index Weaker, Oil Firmer

Gold is modestly higher in early U.S. trading Wednesday, lifted by the key “outside markets” which are in a bullish posture on this day: a lower U.S. dollar index and firmer crude oil prices.

Metals Focus: Global Mining Costs Decline During Third Quarter

Global mining costs fell in the third quarter, reports Metals Focus.

UBS: Potential For ‘Dramatic’ Short-Covering Rally In Gold Is ‘Elevated’

The risk of short covering in gold remains elevated, says UBS.

China Devalues The Yuan

Gold prices are modestly higher on a short-covering Bounce from recent selling pressure.

In overnight news, China’s central bank lowered the yuan’s peg against the U.S. dollar to its lowest level in four years, reports said. The move by the People’s B…