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Gold prices fell, as the holidays in China and some European countries the volume of purchases has slowed. Meanwhile, we note that many investors are waiting for the Federal Reserve System of the USA, which is expected to maintain its economic stimulus programs. Economists predict that the Fed will keep the amount of bond buying program at the level of $ 85 billion a month due to the recent weak economic data. Also on the dynamics of trade influences that tomorrow its decision on the basic interest rate of the European Central Bank will announce.
Many experts believe that the ECB will lower interest rates by 0.25% to 0.5%.
It is equally important event, which is expected, many market participants, will be the publication of the report on the number of people employed in non-agricultural sectors of the economy, which will be presented on Friday.
Note that the data released today showed that the stocks in the SPDR Gold Trust - the largest gold exchange-traded fund in the world, fell yesterday by 0.19% to 1,078.54, while reaching the lowest level since September 2009.
Note also, gold could recover more than half of the losses incurred between April 12 and 16, which was caused by strong physical demand, especially by consumers in China and India.
The cost of the June gold futures on COMEX today dropped to 1444.60 dollars an ounce.
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