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Gold prices declined moderately today , which was associated with the strengthening of the U.S. dollar and expectations of the publication of the minutes of the last meeting of the U.S. Federal Reserve .
"In the past few weeks gold ranges ," said analyst Mitsubishi Corp Jonathan Butler. "We have seen occasional bursts when there were new news from Russia, but the geopolitical risk factor is largely laid low . No news about the U.S. economy and the situation in Ukraine does not allow traders to open new positions . "
Sales of gold futures today additionally caused a further weakening of investment demand for gold bullion . The assets of the world's largest holder of gold investment institutions ETFs SPDR Gold Trust declined yesterday by 1.79 m and amounted to 780.19 tons ( the lowest since December 2008 ) .
We also add that investors remained cautious ahead of the publication of minutes of the last meeting to determine monetary policy the Fed on Wednesday in order to get information about the central bank's vision of the current situation in the economy.
Meanwhile, experts say that can give support to the market expectations of growth in demand in India in the II half since the new government supposedly soften restrictions on gold imports .
The cost of the June gold futures on the COMEX today dropped to $ 1290.10 .
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