By FX Empire.com
Gold prices fell on Tuesday, as investors remained cautious before the Slovak vote for expanding the European rescue fund later in the day, which enhanced demand on the dollar as a favorite safe haven. The Slovak Parliament will discuss the expansion of the EFSF amid frictions between policy makers regarding the broadening of the European lifeline.
The outlook for gold remains generally to the upside, however, we still expect volatility to continue to dominate gold prices, and that could still weigh down on gold prices, but overall, our general outlook for gold prices remains to the upside.
Wednesday October 12:
The focus on Wednesday will be on the FOMC minutes for the last meeting when the Fed announced “operation twist” and with the lack of major fundamentals investors will keep their focus on the minutes for any hints for the coming move from the Federal Reserve.
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