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Gold prices fell slightly in anticipation of the announcement of the Fed meeting . Note that many investors expect to hear hints about when the U.S. central bank will reduce its program of quantitative easing , known as quantitative easing . Concerns about the reduction of the program , which now amounts to $ 85 billion in the month , lowered the price of gold this year is 25 percent. We also add that ultrasoft monetary policy of the Bank raised the price of gold to record highs in 2011.
Analysts say that the price of the precious metal can be restored if the Fed said that before the narrowing of this program is still far away. Note that 34 % of the experts surveyed by Bloomberg, believe that the Fed will start winding down the program quantitative easing (QE) at the December meeting. Over 46% of the analysts interviewed by the newspaper The Wall Street Journal, to expect that the Fed will announce a reduction of monthly volumes of redemption of bonds , which now constitute the $ 85 billion before the end of January 2014 , as the outlook for the U.S. economy improved. While only 25% of respondents expect the Central Bank decreasing volumes quantitative easing (QE) at the December meeting.
Meanwhile, adding that investment interest in physical gold funds continued to wane - stocks in SPDR Gold Shares fell yesterday by 2.1 tons.
Indian demand remained depressed due to lack of inventory on the market, which kept the prize at a high level . Today, officials from the Reserve Bank of India said that it would be premature to remove " barriers " on imports of the precious metal .
In addition, it became known that gold exports from Australia - the world's second largest producer of the metal after China, may fall by 4 per cent in 2013 /14 - to the level of 270 tons. This was stated by the Australian Bureau of Resources and Energy .
The cost of the December gold futures on the COMEX today dropped to $ 1229.90 per ounce.
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