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Gold Declines After Fed’s Policy Minutes

February 21, 2013 at 6:31 by Vladimir Vyun

Gold dropped today after the minutes of the last Federal Reserve’s policy minutes were released yesterday. The minutes showed that the policy makers were discussing additional stimulus. Prospects for more accommodative monetary policy weakened demand for the precious metal as a safe asset.

Additionally, market participants were worried about falling demand from Asian nations, especially India. There were speculations that the country is going to increase taxes on gold imports, reducing buying of the precious metal. India is the world’s biggest importer of gold.

Gold fell $15 (0.95 percent) to $1,563.00 per troy ounce as of 6:28 GMT on COMEX today.

If you have any questions and comments on the commodities today, use the form below to reply.

One Response to “Gold Declines After Fed’s Policy Minutes”

  1. ehsan

    the forcast weakly and daily gold


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