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Gold prices two months to keep the range , begin to decline : the precious metal futures in New York fell to a minimum of 15 weeks amid rising U.S. stock market to record highs .
Stocks exchange traded products (ETF), focused on gold, close to a minimum in 2009 , and investment company cut long positions in precious metals by a third compared with the peak of this year, recorded in March.
Gold loses ground won in the first quarter , when quotes rose to the maximum value for the period from 2008 to the aggravation of relations between Ukraine and Russia and winter slowing U.S. economy . Goldman Sachs Group Inc. and Societe Generale SA forecast that the precious metal , according to the results in 2013 cheapened by 28% , will continue to fall in price. Futures retreated 9.2 % of the maximum of this year, as disclosed in mid-March.
" I see no reason for the rise in price of gold - said the chief investment officer of Houston Kanaly Trust Co. James Shelton involved in managing assets for $ 2.1 billion - Investors continue to favor equities. Gold will be cheaper , unless there is a sharp jump inflation. "
In May quotes gold contracts fell by 2.4% after rising prices by less than 1 % in April, while the index Standard & Poor's GSCI Spot, reflecting the dynamics of 24 commodities rose 0.5 %. Global benchmark MSCI All-Country World since the beginning of the month rose by 1.6 % and the bonds Bloomberg Treasury Bond - 0.9%.
The cost of the June gold futures on the COMEX today dropped to $ 1257.0 per ounce.
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