Gold Futures Drop From Three-Month High on Fed Tapering Concern
Kamis, 20 Februari 2014
30
komentar
Gold
fell from a three-month high as minutes from the Federal Reserve’s last meeting
indicated stimulus cuts would likely continue, crimping demand for the precious
metal as an alternative investment.
Several
policy makers said that in “the absence of an appreciable change in the
economic outlook, there should be a clear presumption in favor of continuing to
reduce the pace” of bond purchases at each meeting, according to minutes
released today. Some officials raised concern that inflation is too low. Gold
climbed 9.8 percent this year as signs that U.S. growth is faltering fueled
bets that the pace of stimulus cuts may slow.
Gold
futures for April delivery declined 0.8 percent to $1,316.10 an ounce in
electronic trading at 2:37 p.m. on the Comex in New York. Prices settled at
$1,320.40 at the end of regular trading before the minutes were released,
The
metal reached $1,332.40 yesterday, the highest since Oct. 31. Last month, the
central bank trimmed monthly bond purchases by $10 billion for a second
straight month to $65 billion. Fed Chairman Janet Yellen said Feb. 11 that
reductions aren’t on a “pre-set course.”
Bullion
surged more than 500 percent in 12 straight years of gains through 2012 as the
dollar weakened. The rally accelerated from December 2008 to June 2011 as the
Fed expanded its balance sheet through debt purchases and held borrowing costs
at a record low in a bid to revive growth amid a U.S. recession. Prices reached
a record $1,923.70 in September 2011.
(Source: Bloomberg)
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Judul: Gold Futures Drop From Three-Month High on Fed Tapering Concern
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30 komentar:
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Maknyoss
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The Gold futures fell, as Janet Yallen said the bank will continue to cut it's stimulus meansurs for the US economy. Crimping demand for the gold as an alternative investment.
Nur R.
Top News, Nice info
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