Gold futures fell over a period of four weeks during the European morning hours on Thursday , amid speculation that the Federal Reserve will reduce the bond-buying program at its next policy next week .<\/p>\n
Contributed to some technical selling also in losses after lower prices through key support levels .<\/p>\n
On the Comex division of the New York Mercantile Exchange , traded gold futures for December delivery at $ 1 345.70 a troy ounce during European morning hours , shedding 1.3%.<\/p>\n
Gold fell by 1.5% in the earlier to reach the lowest price in the session at 1, 343.60 dollars an ounce , the lowest price since 15 August to August .<\/p>\n
In December contract ended Tuesday’s session unchanged at 1 , 363.80 dollars per ounce .<\/p>\n
Was likely to find support at 1 gold , $ 318.10 an ounce , the lowest price as of August 15 and resistance at 1 , 387.10 dollars per ounce, the highest price since Sept. 10 .<\/p>\n
Losses accelerated after gold prices break below the level of 100 -day moving average near 1356 – dollars an ounce , triggering a wave of automatic sell orders amid bearish chart signals .<\/p>\n
Market participants awaited weekly data on initial jobless claims in the U.S. later in the session for clues on the strength of the economic recovery.<\/p>\n
Gold dealers awaited U.S. data recently to measure if it will lead to the strengthening or weakening the case for the Fed to reduce bond purchases.<\/p>\n
He is scheduled to meet on 17-18 September Bank to review the economy and central bank policy assessment .<\/p>\n
The Wall Street investment bank Goldman Sachs in a report Wednesday that he expects that “the price of gold will decline in 2014 against the backdrop of accelerated activity in the United States and the issue of reducing the monetary policy<\/p>\n
The bank said it was maintaining its goals for three years and six months at level 1, $ 300 ( an ounce ) . For 12 months , and it was the goal of Goldman is U1 , $ 175 ( an ounce ) .<\/p>\n
Decline in the precious metal on track by 20% for the year as traders bet that the U.S. economy is improving , led by the Fed , which will reduce the stimulus program by the end of the year .<\/p>\n
The prices of gold came under additional Dgtoot after declining threat of U.S. military intervention in Syria, which negatively affects the safe – haven allure of the precious metal .<\/p>\n
Instead, President Obama said he would discuss the plan proposed by Russia for Syria to develop chemical weapons under international control .<\/p>\n","protected":false},"excerpt":{"rendered":"
Gold futures fell over a period of four weeks during the European morning hours on Thursday , amid speculation that the Federal Reserve will reduce the bond-buying program at its next policy next week . Contributed to some technical selling also in losses after lower prices through key support levels . On the Comex division […]<\/p>\n","protected":false},"author":3,"featured_media":435647,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[10],"tags":[],"class_list":["post-435667","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-gold-prices"],"_links":{"self":[{"href":"https:\/\/dxbgoldrate.com\/dubaigoldrates\/wp-json\/wp\/v2\/posts\/435667","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dxbgoldrate.com\/dubaigoldrates\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dxbgoldrate.com\/dubaigoldrates\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dxbgoldrate.com\/dubaigoldrates\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/dxbgoldrate.com\/dubaigoldrates\/wp-json\/wp\/v2\/comments?post=435667"}],"version-history":[{"count":0,"href":"https:\/\/dxbgoldrate.com\/dubaigoldrates\/wp-json\/wp\/v2\/posts\/435667\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dxbgoldrate.com\/dubaigoldrates\/wp-json\/wp\/v2\/media\/435647"}],"wp:attachment":[{"href":"https:\/\/dxbgoldrate.com\/dubaigoldrates\/wp-json\/wp\/v2\/media?parent=435667"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dxbgoldrate.com\/dubaigoldrates\/wp-json\/wp\/v2\/categories?post=435667"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dxbgoldrate.com\/dubaigoldrates\/wp-json\/wp\/v2\/tags?post=435667"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}