For gold with delivery in February contract fell by $ 2.60, or 0.2%, to $ 1,646.30 an ounce on the Comex – New York Mercantile Exchange. In the short term, gold prices are expected to trade in a range between $ 1.630 and $ 1.690 as a point of resistance. At this time point, the price of gold is seen that dfalam neutral position with a declining trend.
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By signaling the Fed’s policy is, obviously will weaken gold prices. In the latest three trading sessions, the price of gold is down $ 42.50 per ounce, down 2.5%. The U.S. dollar index was thus reduced to 80,242, from 80,440 previously.
Other news stated that Kusasalethu gold mining in South Africa is still closed until conditions are deemed safe again. This decision was made following the closing of the annual production declined to 1.2 million from 1.3 million previously targeted. (Hqeem)