Gold licking their wounds near its lowest level in three weeks
Gold licking their wounds near its lowest level in three weeks
10/30/2014 07:05 GMT
Agencies – Gold sought to heal the wounds near its lowest level in three weeks after the Federal Reserve ended its incentive to buy bonds and expressed confidence in the recovery of the US economy, which reduced the appeal of the precious metal as a safe investment.
In a statement at the conclusion of a two-day meeting of the US central bank pointed out that it is not expected to result in the recent turmoil in the financial markets and lackluster growth in Europe and the weakness of inflation to undermine progress towards achieving its goals on unemployment and inflation.
Gold fell, who is often seen as an alternative investment vehicle during economic turmoil and Financial by fears that the confidence expressed by the Fed in the recovery of the economy may be an indication that he will raise interest rates soon.
Analysts said gold is exposed to further losses on Thursday if the US gross domestic product figures showed the third quarter of the year growth higher than 3 percent. Some of them said they do not rule out that the gold back to the old lows of around $ 1180 an ounce.
Will be issued and the US Commerce Department’s GDP figures at 1230 GMT. It is expected to show that the world’s largest economy grew at an annual rate of 3 percent in the period from July to the end of September.
And stabilized the price of gold for immediate sale in Asian trading around $ 1213 an ounce, after it was dropped during the previous session to 1208.26 dollars, its lowest level since October October eighth before closing down 1.3 percent.
Earlier this month, the metal yellow hue to its lowest level in 15 months at $ 1183.46.
And landed US gold futures 1 percent to $ 1213.20 an ounce Haveh footsteps of losses in online transactions.
Q, Q
alrayy.com
