{"id":435752,"date":"2013-09-22T20:05:42","date_gmt":"2013-09-22T16:05:42","guid":{"rendered":"http:\/\/www.dubaigoldprices.com\/?p=435752"},"modified":"2013-09-22T20:05:42","modified_gmt":"2013-09-22T16:05:42","slug":"gold-copper-silver-and-weekly-outlook-from-23-27-september","status":"publish","type":"post","link":"https:\/\/dxbgoldrate.com\/dubaigoldrates\/2013\/09\/22\/gold-copper-silver-and-weekly-outlook-from-23-27-september\/","title":{"rendered":"Gold, copper, silver and weekly outlook from 23-27 September"},"content":{"rendered":"

Gold futures<\/strong> fell by about 3% on Friday, amid ongoing uncertainty about the future of monetary stimulus program from the Fed.<\/p>\n

On Comex Gold futures for December delivery tumbled 2.7% on Friday to close the week at $ 1, 332.50 \/OZ .<\/p>\n

Gold futures prices<\/strong> fell by 3.2% earlier in the session to reach the lowest price for at USD1,325.10 a troy ounce. December contract settled up 4.7% higher at USD1,369.30\/Oz on Thursday.<\/p>\n

Gold futures<\/strong> were likely to find support at USD1,291.70 a troy ounce, the low from September 18 and resistance at USD1,375.10, the high from September 19.<\/p>\n

Despite the sharp decline on Friday, gold prices rose by 0.5%, due to a sharp rise on Thursday.<\/p>\n

Gold prices<\/strong> <\/a>rose by up to 4.5% on Thursday after the Fed decided to leave the stimulus program of $ 85 billion in the month, unchanged.<\/p>\n

Decision surprised the markets, which had expected the Fed to cut stimulus program of $ 85 billion from $ 10 billion to 15 billion. Billion.<\/p>\n

In a news conference after the Fed’s statement, Chairman Ben Bernanke said the Council that bond shrink evil plan has not been prepared in advance “,” and added that the bank’s decision was based on the extent of the continuing economic recovery in progress.<\/p>\n

The central bank also reiterated the constant objective of keeping interest rates low at a certain rate until the unemployment rate to about 6.5%, as long as the inflation rate did not exceed 2.5% per year.<\/p>\n

But the precious metal came under pressure amid a broad sell-off on Friday, and the governor said the Federal Reserve in St. Louis James Bullard said the decision not to reduce the bond purchases in September was “closed”, did not rule out a slight decline in the purchase of bonds of the Central Bank in October. The comments came during an interview with Bloomberg Television.<\/p>\n

Fed held its next meeting of the monetary policy on 29-30 October<\/p>\n

Tracks the movements in the price of gold this year, largely on expectations of whether the U.S. central bank will end its quantitative easing program sooner than expected.<\/p>\n

The dollar strengthened against the euro and yen after Bullard remarks, which cast further pressure on gold prices.<\/p>\n

Gold prices<\/strong> often move inversely to the U.S. dollar, as gold becomes more expensive for buyers who use other currencies.<\/p>\n

In the week ahead, uncertainty over the direction of the Fed\u2019s monetary policy and the decision over Chairman Ben Bernanke\u2019s eventual successor look likely to influence gold prices.<\/p>\n

This precious metal on track fell by 22% for the year as traders bet that the U.S. economy will improve, led by the Federal Reserve to reduce stimulus program before the end of the year.<\/p>\n

Elsewhere on the Comex, silver for December delivery fell in December by 5.85% on Friday to close the week at $ 21.92 an ounce. Silver prices stabilized by 8% to a record 23.29 dollars per ounce on Thursday.<\/p>\n

Over the week, silver prices fell by 1.45%.<\/p>\n

At the same time, copper for December delivery fell 0.8% on Friday to close the week at $ 3.320 a pound. On Thursday, copper rose by 2.1% to close at $ 3.347 a pound.<\/p>\n

Red metal prices rose by 3% during the week.<\/p>\n

Copper traders awaited the preliminary reading of the Procurement Managers Index Manufacturing HSBC China on Monday, to measure the economic strength of the largest consumer of copper in the world.<\/p>\n","protected":false},"excerpt":{"rendered":"

Gold futures fell by about 3% on Friday, amid ongoing uncertainty about the future of monetary stimulus program from the Fed. On Comex Gold futures for December delivery tumbled 2.7% on Friday to close the week at $ 1, 332.50 \/OZ . Gold futures prices fell by 3.2% earlier in the session to reach the […]<\/p>\n","protected":false},"author":3,"featured_media":435558,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9],"tags":[391,484,794],"class_list":["post-435752","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-gold-news","tag-gold-futures","tag-gold-prices-2","tag-silver-prices"],"_links":{"self":[{"href":"https:\/\/dxbgoldrate.com\/dubaigoldrates\/wp-json\/wp\/v2\/posts\/435752","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=435752"}],"version-history":[{"count":0,"href":"https:\/\/dxbgoldrate.com\/dubaigoldrates\/wp-json\/wp\/v2\/posts\/435752\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dxbgoldrate.com\/dubaigoldrates\/wp-json\/wp\/v2\/media\/435558"}],"wp:attachment":[{"href":"https:\/\/dxbgoldrate.com\/dubaigoldrates\/wp-json\/wp\/v2\/media?parent=435752"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dxbgoldrate.com\/dubaigoldrates\/wp-json\/wp\/v2\/categories?post=435752"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dxbgoldrate.com\/dubaigoldrates\/wp-json\/wp\/v2\/tags?post=435752"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}