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03.01.2013 16:20

Gold prices retreated from two-week high

In today's trading gold is trading with a moderate decrease, while the last two weeks prices have reached a maximum. As economists say, today's decline was due to the sharp appreciation of the dollar and the slowdown in the stock markets. At the same time, many investors looked forward to the next budget negotiations in the U.S., as the euphoria associated with the vote on the "budget cliff" has disappeared.

Meanwhile, the price of gold is at the present employment data from ADP, which showed that private sector employers to increase jobs than expected in December.

Note also the gold price for the importers in India fell slightly today, which was caused by rumors of a tax on imports, but despite this, the weak rupiah helped keep prices near their highest level in two weeks.

Also today, the Istanbul Gold Exchange reported that gold imports in Turkey increased by 57% last year to 120.78 tonnes from 79.7 tonnes in 2011.

February futures price of gold on the COMEX is now 1679.80 an ounce.


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