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20.02.2013 16:22

Gold retraced to summer levels in anticipation of FOMC


Today, gold prices confirmed break below the level of $ 1,600 an ounce for the first time since mid-August. In anticipation of the FOMC minutes precious metal is trading lower, although in the case declared the monthly purchases of bonds worth $ 85 billion may put pressure on prices. Investors are waiting for the publication of minutes of the last meeting of the U.S. Federal Reserve, to assess the attitude of the central bank to its policy, which helped gold to rise in recent years.

Gold cheaper in recent days due to better economic performance in Europe and the U.S. and rising stock markets.

Stocks of the largest gold-exchange-traded fund (ETF) SPDR Gold Trust on Tuesday fell more than 3 tons to 1.319,964 tons - the minimum level in nearly five months.

April futures price of gold on COMEX today dropped to 1577.50 dollars per ounce.





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