FX & CFD trading involves significant risk
Gold prices have stabilized today , after fixing the largest weekly increase last week. Note that this significant rise was due to expectations that the Federal Reserve will adjust the restriction of the program of monetary stimulus .
Gold rose nearly 4 percent last week on expectations that the Fed will maintain stimulus measures after two weeks shatdauna U.S. government, which has lowered growth expectations . But the strongest growth among the other assets reduced gold's appeal to investors , and made a weak physical demand .
We also add that the stabilization of prices is also due to the fact that many market participants are waiting for the publication of data on the number of jobs outside agriculture on Tuesday, as well as official data on unemployment in the United States . It is expected that the figure will be released above the acceptable threshold of 6.5 % of the Federal Reserve System, and therefore Fed QE3 will continue the program in its entirety. October 22 , after the delay associated with the shutdown in the United States, will be published by the government's employment report . According to the median forecast of analysts in the U.S. economy in the past month has been created 180 thousand jobs , higher than the August figure of 169 thousand, however , it is expected that the official unemployment rate was 7.3 %.
We also add that the data presented today showed that the gold reserves of the world's largest exchange-traded fund SPDR Gold Shares were near the lows for the last 4.5 years , after falling last week, which was the seventh row.
The cost of the December gold futures on COMEX today rose to $ 1316.70 per ounce.
|remaining time till the new event being published|
All posted material is a marketing communication solely for informational purposes and reliance on this may lead to loss. Past performance is not a reliable indicator of future results. Please read our full disclaimer.