Gold prices fell below the levels of 1290 dollars an ounce exceeded analysts’ expectations, with growth data for the U.S. in addition to the reduction of the hedge fund positions for long-term
And decreased gold futures for December delivery in electronic trading on the New York Stock Exchange during trading today, rose 0.4% to $ 1289 dollars.
Hedge funds reduced their positions from a long-term contract to 122.1 thousand in the week ending twenty-ninth of July, while the short-term holdings fell by 24% to 26.1 thousand contract.
And many experts predict that the direction of gold remains negative today as analysts refer to a decline in prices of the precious metal to levels approaching of 1280 dollars, when unshielded target price levels close to 1270 dollars to consist of purchasing opportunities according to their expectations.
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