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21.01.2014 16:20

Gold fell

Gold prices fell to a six-week peak against the background of recovery in stock markets and the possibility of weakening demand in the physical market .

Today, the IMF has improved the assessment of global economic growth in 2013 and forecast for 2014 - up to 3 % and 3.7 % respectively from the expected 2.9% in October and 3.6 %. Growth in the economies of developed countries , according to the IMF amounted to 1.3 % in the past year , and in 2014 will accelerate to 2.2%.

Investors do not want to create large positions in anticipation of the Fed meeting , at which the central bank may continue to reduce the program of buying bonds.

Fed meeting will be held January 28-29 . At the December meeting, the central bank reduced its monthly buying of bonds by $ 10 billion to $ 75 billion . Due to this program, the price of gold in 2011 reached a historic high of $ 1,920 an ounce, but subsequently decreased by 35 percent from that level .

Gold purchases in China, the world's largest consumer of the precious metal , declined last week as prices are rising for four weeks . Surcharge 99.99 fine gold on the Shanghai Futures Exchange fell to $ 13 per ounce to $ 14 on Monday . According to analysts, China's gold imports will decline this year to a record high last year.

Cost February gold futures on the COMEX today dropped to $ 1235.10 per ounce.

Market Focus

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  • Australian unemployment rate stable at 5.6% in June
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