Author: Team Editors admin

(Reuters) – Spot gold prices near the highest level in a week on Friday, and on the verge of recording the biggest weekly gain in five weeks after the Council postponed the U.S. Federal Reserve to reduce monetary stimulus measures that benefit the precious metal.

“the market will take some time to absorb this sudden decision,” said Analyst Victor Thianberrya

Adding that economic data would be much more important in the coming period.

Many had expected a decision from the Federal Reserve cut its bond purchase program which is worth $ 85 billion a month by ten billion dollars after strong economic data.

Gold fell in the spot market up 0.2 percent to $ 1362.40 an ounce by 0639 GMT, did not move away from its highest level in a week of $ 1374.54 hit on Thursday. The yellow metal rose nearly three percent this week.

Silver fell 0.5 percent to $ 22.9 an ounce, platinum fell 0.2 percent to $ 1456.2 an ounce and palladium down 0.5 percent to $ 729 an ounce

Gold prices turned to rise again, contrary to expectations, jumped spot prices for the yellow metal by more than 4.1% to reach more than $1364.67 /Oz in New York Stock Exchange at the end of trading , sending to the highest level since January 2009 after deciding the Fed’s continuing program of monetary expansion contrary to all expectations, which led to increased demand for the yellow metal as a store of value or the best safe-haven assets.

Said Bloomberg that the futures prices of gold also jumped by about 4.2% in the Stock Exchange Comics for goods to reach more than 1364.1% dollars an ounce to achieve the biggest gain since March 2009, though gold prices have fallen 22% this year due to declining inflation and rising stock prices is that it has stepped up about 70 % since December 2008 until June 2011, when the Fed pumped more than U.S. $ 2 trillion in the financial system through the purchase of debt.

The yellow metal has continued to decline for a third straight session Wednesday, and it has more than 1% is trading below $ 1,300 an ounce, “ounce” expectations of investors to announce the Federal Reserve, “the U.S. central bank,” a reduction procedures monetary stimulus that benefit the precious metal .

Where he was expected to start the Federal Reserve changed its monetary policy too soft to declare a limited reduction for its purchases of bonds worth 85 billion dollars a month, on Wednesday at the conclusion of the two-day meeting. Many had expected to reduce purchases by ten billion dollars.

Gold price of gold in the spot market 0.5% to $ 1302.50 an ounce to reach its decline this year by 22%. He had been dropped earlier in the session to $ 1291.34, its lowest level since the eighth of August.

Said a trader in precious metals in Hong Kong, “It all depends on the Federal Open Market Committee … depends on the dialect and the nature of the stimulus reduction .”

According to him, technically still under pressure gold may find it difficult to rise above $ 1,350 again.

The price of silver fell 0.5% to 21.57 dollars an ounce, down 0.1% platinum to 1416 dollars per ounce and palladium fell 0.7% to $ 698.50 an ounce.

(Reuters) – Gold stay near the highest level in a week on Thursday after it surprised the Federal Reserve (the U.S. central bank) to postpone markets shrink stimulate useful cash commodity With the decline in the dollar to the lowest price in seven months.

The U.S. gold futures jumped 4.6 percent by the decision and silver contracts increased seven percent the spot price gains in the previous session.

But the gains have been limited by the absence of China – the main buyer – from the market due to a public holiday.

By the time of 0623 GMT, the spot price of gold up 0.2 percent to $ 1362.24 an ounce after touching earlier $ 1367.86, the highest price since Sept. 11.

Silver rose 0.5 percent to a record $ 22.98 an ounce.

And platinum rose 0.1 percent to $ 1464.50 and palladium offers for the same to $ 717.72 an ounce

(Dubai Gold ) – Gold above its lowest level in five weeks on Tuesday as investors wait to find out when will the Federal Reserve (Fed) to reduce the huge economic stimulated.

The metal has lost more than 20 percent of its value this year, with its appeal as a safe haven affected the recovery of the U.S. economy and growing concerns that the central bank will reduce the bond purchases that benefit commodities.

By the time of 0613 GMT, the spot price of gold 0.06 percent to $ 1314.21 an ounce after falling one percent in the previous session to the lowest price in five weeks, when a record $ 1303.85.

Silver rose 0.8 percent to a record $ 21.88 an ounce.

Platinum rose 0.3 percent to $ 1437.74 and palladium offers 0.4 percent to $ 703.97 an ounce