Gold rebounded a modest rebound on Tuesday , after falling more than 1% in the previous session , but the precious metal is still heading for the biggest annual decline in more than 30 years as investors shifted money stock split .
Shows a decline in holdings of index funds fell investor confidence in the metal as a hedge against inflation and as an alternative investment after the Federal Reserve announced ( the U.S. central bank ) plans to reduce its purchases of bonds huge monthly .
By 07:04 GMT, gold rose 0.3% to 1199.40 dollars per ounce , but it will end the year on what appears to be low about 28 % .
And prices much lower than the highest level ever recorded in 2011, when it exceeded $ 1900 in the midst of Europe’s debt crisis .
Hui and gold to the lowest price in six months at about $ 1,185 on December 20, after the Fed’s decision to reduce the bond purchases , which triggered a wave of selling in the metal.
Said Managing Director of Central Gold Silver in Singapore , because Brian : “For the next quarter will look like precious metals as a whole is weak . Could test gold , especially during the first quarter lows for the current year which is not far away .”
The U.S. gold futures fell 0.4% to 1198.70 dollars an ounce , and the decline in the spot price of silver 0.5% to 19.45 dollars an ounce .
Platinum rose 0.3 % to hit U.S. $ 1359.49 and palladium rose 0.4 percent to 709 dollars an ounce .
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