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The price of gold declines after a sharp rise the previous day. Pressure on the stock of the precious metal has a strengthening U.S. currency.
Today we have published data showing that U.S. industrial orders in December 2013 compared with the previous month decreased by 1.5 % . This is according to the Ministry of Commerce . Analysts polled by Bloomberg, is expected to fall 1.8%. According to revised data , in November, the volume of new orders increased by 1.5% , whereas the previously reported 1.8% increase .
The world's largest gold exchange-traded fund secured SPDR Gold Trust does not mark outflows over a week , but its reserves are still close to five-year low after a record reduction of more than 17 million ounces last year.
Physical markets are inactive in the absence of Chinese buyers to Friday celebrating the New Year by the lunar calendar .
The cost of the April gold futures on the COMEX today dropped to $ 1246.80 per ounce.
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