Possible decline in gold prices - we are paying top dollar for gold. Gold Forecast - April 25th (fxempire) Gold is flat for the day moving between gains and losses with no direction as traders take a breather after the situation in the Ukraine seems to have puffed out. Gold remains at the 1284.00 price level. Gold edged up on Thursday but held near a more than two-month low with a rally in equities dimming its appeal as an alternative investment, while demand from jewelers was also muted as they waited for prices to drop further. Investors are now waiting for the release of US jobless claims and durable goods orders data for clues on the health of the world’s largest economy ahead of next week’s meeting of the Federal Reserve Open Market Committee on interest rates. Investment demand remains weak with the world’s largest gold-backed exchange-traded fund, SPDR Gold Trust, seeing sharp outflows in recent days. Last week, the fund’s outflows totaled 9.3 tons, erasing all the gains made in the year. “It seems that $1,300 is not easy to break through for the time being. There’s not much buying from China. People are just waiting for the price to fall
Posted on: Thu, 24 Apr 2014 16:48:11 +0000
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