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With little fear of a west military strike of Syria to a large extent this week, prices began to oil markets go down, while the income of gold in a state of chaos, not least because of the increased focus on the meeting of the Federal Open Market to be held from 17 to September 18, 2013, where Patthan-expected U.S. Federal reserve announced the beginning of the gradual easing of its huge program your purchased assets.

Pushed the sectors of energy, industry and in particular all of the precious metals by the above-mentioned workers, but also because of the continuing uncertainties related to the ongoing economic recovery in the wake of data lower than expected production in Europe and the recent slowdown in job creation in the United States. The agriculture sector was mixed, where he went to each of soybeans and corn in two separate directions, while three of agricultural commodities such as orange juice, sugar and coffee the best in terms of performance.

The price of gold fell to the lowest level seen in nine weeks after he calmed geopolitical tensions and increased speculation stimulus from the Federal Open Market . Given sales a boost on Thursday when art make way triple line of defense located at 1350 dollars per ounce area and did not stop the sell-off only when the latest technical support at $ 1,300 per ounce , some of the profits that occurred before the weekend.

Decline was driven by momentum traders , such as hedge funds , who in August had raised sharply from exposure in the intensive purchasing operations for gold. Since this increase was driven primarily purchases to avoid losses when the price rises , the most negative tendencies left many funds ample room to re-establish selling in a falling market prices.

The impact of copper

Silver reacted with the same news that drives gold with some additional weakness derived from continued profit – taking in copper. Scroll held December high – quality copper to the lower end of the price range of $ 3.20-3.40 per pound because the demand outlook has been marred by doubts after the economic data is weaker than expected had been issued recently. Copper was higher in August, is the one who helped to launch a large rebound in silver ( and gold) while now see the return of the silver they were wrestling and sold at a greater pace than gold.

(Reuters) – Gold fell on Monday amid expectations that starts with the Federal Reserve (Fed) to reduce monetary stimulus, which supports commodities this month, despite the withdrawal of Lawrence Summers from the race for the presidency of the Council.

The consensus agreed that the Council will reduce bond purchases amounting to $ 85 billion a month by ten billion dollars and that it will announce a reduction of quantitative easing after the meeting of 17 and 18 September.

The price of gold in the spot market up 0.7 percent to $ 1317.61 an ounce by the time of 1008 GMT. The gold record last week, its biggest weekly decline in more than two months.

Silver fell 1.5 percent to $ 21.88 an ounce after falling on Friday to its lowest level in a month when recorded 21.35 dollars per ounce.

Platinum fell 0.4 percent to $ 1444.24 while palladium rose 0.9 percent to $ 703.50 an ounce

Reuters expect that falling demand for gold during the first half of this year.

“Thomson Reuters ” noted in the surveyed first about gold for the year 2013 which revealed its findings today that the rates of storage consumers high of gold in the market buying traditional fall and decays with trading volume during the remaining period of the current year .. As expect lower gold bullion storage 50 %.

Company alerted the that geopolitical tensions and talk continued about the debt ceiling in Washington could lead to influence the movement of gold prices with the likelihood of achieving the price of an ounce to 1500 U.S. $ at the beginning of next year at an average price could reach / 1350 / dollars during the year, compared with $1446 in the current year.

The Rhona O’Connell, head of forecasts and research minerals in the Thomson Reuters headquarters in New York that the actual demand for gold has seen a significant rise in April after a sharp drop in prices since lost more than 240 U.S. $ per ounce or approximately 16 per cent during the three trading days in the middle of the month.

This decline is attributed not only as a result of speculation in the markets, but also because the European Commission’s proposal should be the sale of Bank of Cyprus gold value 400 million euros to help local public treasury, which could undermine the independence of European national banks.

Gold rebounded on Friday on late bargain hunting, but poor technical momentum, easing tensions with Syria and expectations that the US Federal Reserve will unwind its monetary stimulus led to the metal’s largest weekly loss since late June.

After falling as much as 1 percent to hit a five-week low earlier Friday, bullion ended up 0.3 percent on buying related to pre-weekend book squaring late in the session, traders said.

In late August, gold surged to a three-month high above USD 1,430 on concerns Western powers led by the United States would launch military strikes on Syria. Since then, the metal’s price has lost almost 8 percent.

On Friday, Russia and the United States agreed to a new push to negotiate an end to Syria’s civil war as they discussed a plan to destroy President Bashar al-Assad’s chemical weapons in order to avert US air strikes.

“As tensions with Syria cool down, the risk premium that had quickly pushed the gold market sharply higher is now being taken off very quickly,” said Sean McGillivray, head of asset allocation at Great Pacific Wealth Management.

Spot gold hit its lowest point since Aug. 8 at USD 1,304.56, and was last up 0.3 percent at USD 1,324.26 an ounce.

Bullion lost nearly 5 percent this week for its biggest weekly loss since the week of June 28.

US gold futures for December settled down USD 22 at USD 1,308.60 an ounce. Despite active trading in the last two sessions, volume was only 10 percent above its 30-day average, preliminary Reuters data showed.

On Thursday, gold fell 3.5 percent after a sudden price tumble in the futures market shattered investor confidence. The metal also broke below its 100- and 50-day moving averages in the previous session.

US DATA POINTS TO WEAKNESS

For the second consecutive day, choppy trading in precious metals came as outside markets including US equities and the US currency barely responded to economic indicators.

US data showed consumer confidence ebbed early this month and retail sales advanced just slightly in August, the latest indications of a lack of momentum in the economy. Another report on Friday showed an energy-led rise in wholesale prices last month but subdued inflation pressure.

Now traders turn their attention to the Federal Open Market Committee which is expected to release a policy statement at the end of its two-day meeting next Wednesday.

Consensus is building among analysts that the FOMC could announce a plan to begin slashing its USD 85 billion monthly bond purchase program.

Among other precious metals, silver climbed 2.1 percent to USD 22.20 an ounce. It lost 7 percent this week, its biggest weekly loss since late June.

Platinum rose 1.6 percent to USD 1,450.75 an ounce, while palladium gained 1.4 percent to USD 699 an ounce.

Reuters

Gold prices tended to decline to the lowest level in more than four weeks today in a time when shrunk unit concerns about the situation in Syria , as well as investors awaited the Fed meeting next week.

Gold prices fell to levels of $ 1,308.00 in early trading today after it opened at levels of $ 1320.92 an ounce while only yesterday fell by about 3 %, while prices are moving to achieve a weekly decline of more than 5.00% so far , which is the worst performance in two months.

Gold prices severely affected after Pat resorting to military intervention led by the United States against Syria is distant even now that diplomatic solutions have been adopted Russian – brokered by subjecting the Syrian chemical program under international control , which reduced the chances of military intervention so far and then decline in the attractiveness gold as a safe haven for investment.

Gold prices rose to the highest level in three and a half months at the end of the previous month at $ 1,433.00 per ounce on the effect of increasing political tension in Syrian affairs , but international prices fell quickly in light of shrinking unit those concerns.

On the other side waiting for markets open FOMC meeting Federal Reserve Bank on 17-18 of this month amid speculation of some investors that the bank may turn to reduce the quantitative easing policy ‘s worth $ 85 billion per month .

And then increased the negative pressure on gold prices , which have benefited from quantitative easing policies so that prices have doubled over the past three years .

Technical factors break areas 1350.00 $ an ounce led to lower prices accelerated to also break the levels of $ 1320.00 an ounce and then the remaining levels 1300.00 $ an ounce ground -Government yet whether increased negative pressures may be targeted levels of $ 1285.00 an ounce.

But the attendant decline in gold prices the entry of investors once again to the gold markets to seize the opportunity to buy when prices are low, yet there are still some buying but some investors are waiting for further price drop and then again turnout for the yellow metal .

Looking ahead to today ‘s retail sales index at 12:30 GMT in the United States , which perhaps may affect movements in the gold markets .