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Gold prices fell markedly today , while reaching its lowest level in more than two weeks , as technical indicators used by some traders as a signal of further decline. The value of stocks also affected the outflow of exchange-traded fund and strengthen the dollar. Add that to the background reduction in investment funds, investors do not pay attention to the increased tension in Ukraine.
It should be noted that since the beginning of the year the precious metal rose by 7 percent, as investors assessed the prospects for further reductions in incentive programs of the Federal Reserve amid signs of recovery in the world 's largest economy .
With regard to the current situation , the data showed the world's largest reserves of gold exchange-traded fund secured SPDR Gold Trust last week decreased by 9.3 tons and 6.2 tons climbed since the beginning of the year. Last year, the outflow of funds from the fund was one of the reasons why 28 percent drop in gold prices.
Demand in the physical markets in Asia remains weak , including China - the world's largest consumer of gold. According to sources , China 's gold imports allowed by Beijing, which may be due to a tacit increase gold reserves .
No small importance was the news of the gold mining industry . Sources told Reuters, that the negotiations between Barrick Gold Corp and Newmont Mining Corp combination did not bring the desired result , but the company is still interested in their continuation .
June futures on COMEX gold fell to $ 1286.70 .
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