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Gold prices are falling due to the appreciation of the dollar caused by the publication of data on unemployment in the U.S. and concerns about rising tensions with Iran.
Production of refined gold in China rose in September by 2.3% m / m to 32.61 m level, and for 9 months of the year figure was 259 tonnes (+4.3% y / y). As a result, in the China Gold Association expected growth in production of precious metals up to 350 tons - China, therefore, retains the title of the largest gold producer in the world.
As noted in the Saxo Bank, gold can not be much progress, despite the worsening recession and active buying of gold by central banks. Meanwhile, investment in gold ETF rose to 2350 tons
ECB since 2011 increased its gold reserves by 25 million ounces (0.8 tonnes) - the last time net purchases were recorded, according to the IMF and the ECB in 1985.
Today, the January futures contract for gold on Comex in New York fell to 1740.01 dollars per troy ounce.
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