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Gold prices down on the background of strengthening of the dollar after the publication of minutes of the March meeting of the U.S. Federal Reserve.
Minutes of the March FOMC meeting, released Tuesday, showed that only two out of 10 voting members of the Federal Open Market Committee sees the need for additional monetary stimulus.
Investor interest in gold in recent weeks has decreased because of good economic performance of the United States. So, today's employment report showed that in March the number of payrolls in the U.S. private sector has grown stronger than analysts predicted, indicating that recovery of the labor market of the world's largest economy.The employment rate increased by 209 thousand against 230 thousand in February, as shown by ADP. More active growth of new jobs may lead to increased wages, it is necessary to maintain consumer spending, which accounts for 70% of the U.S. economy.
In addition, pessimism markets react to the news that the strike jewelers in India, protesting tax increases on their products, have been going on the eighteenth day.
The ECB, on Wednesday left its key interest rate at record low 1.0 per cent per annum, because the recovery in the eurozone looks increasingly fragile, and fears grow in Spain.
April futures price of gold on COMEX has fallen today to $ 1613.0 an ounce.
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