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16.01.2013 16:20

Gold prices retreated from one-week high

Price of gold futures fell today, departing made yesterday week high. Experts point out that this dynamic is primarily due to the fact that demand is weakening, while economic growth is slowing. In addition, the fall today demonstrated and platinum prices, which fell to a three-month high. , In addition, many buyers of gold are awaiting further reduce the cost, which was triggered by a statement from the World Bank, who announced the lowering of global growth forecast for this year, and also said about a possible second annual decline in the euro area.

Against this background, economists note that any talk of slowing physical demand will put pressure on prices. Meanwhile, on the whole, there is some nervousness because of the slowdown.

Note that from a technical perspective, gold prices are likely to meet resistance at around $ 1,690 per ounce, which is a maximum of 3 January.

At the same time, analysts note that precious metals are relatively stable for a more "solid" U.S. dollar, on the possibility of a further decline in the next couple of days is not high.

February futures price of gold on COMEX today fell to 1680.80 dollars per ounce.


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