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28.01.2013 16:40

The price of gold fell in anticipation of Fed meeting

Gold prices fell today as some traders reduced the number of futures positions in anticipation of the expiration of their term and also scheduled for this week, the Fed meeting. At the same time helped to stop the decline in the data, which showed that the central banks have increased their gold reserves in December. Note that the head of the increase was the Central Bank of Russia and Kazakhstan. Recall that the central banks have been significant support for the gold market in recent years, since the purchase in the sector exceeded sales of gold reserves. Meanwhile, central banks continue to use gold to diversify their foreign currency reserves.

Experts say that now has been an increase of caution among investors ahead of the first meeting in 2013, the Federal Reserve in 2013, which is due to start on Tuesday and end on Wednesday. Recall that the minutes of the last FOMC meeting seriously roiled markets, as some members have expressed their dissatisfaction with the policy.

February futures price of gold on COMEX today fell to 1654.40 dollars per ounce.

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