However, after the Fed conference in December, there should be some technical rebound in gold prices," said Jiang Shu, chief analyst, Shandong Gold Group. "Since there are a few trading days left until the end of this year we think that the rebound will not be very strong." Spot gold may bounce to $1,210 per ounce before falling towards its December 15 low of $1,122.35 in the next three months, according to Reuters technical analyst Wang Tao. Reflecting bearish investor sentiment, assets in the SPDR Gold Trust, the world's largest gold-backed exchange-traded fund, fell 0.14 percent to 823.36 tonnes on Tuesday. Holdings are down about 13 percent since the US presidential elections.
However, after the Fed conference in December, there should be some technical rebound in gold prices," said Jiang Shu, chief analyst, Shandong Gold Group. "Since there are a few trading days left until the end of this year we think that the rebound will not be very strong." Spot gold may bounce to $1,210 per ounce before falling towards its December 15 low of $1,122.35 in the next three months, according to Reuters technical analyst Wang Tao. Reflecting bearish investor sentiment, assets in the SPDR Gold Trust, the world's largest gold-backed exchange-traded fund, fell 0.14 percent to 823.36 tonnes on Tuesday. Holdings are down about 13 percent since the US presidential elections.