• Gold: an overview of the market situation

Market news

24 March 2014

Gold: an overview of the market situation

Gold prices fell markedly today , reaching with one-month low , which was associated with increased expectations about rising interest rates in the U.S. in early 2015 .

Recall that at the end of last week, the precious metal fell by 3.5 per cent , showing the maximum decline since November after the statements of the U.S. Federal Reserve about the possible failure of the program to stimulate the economy this year and an increase in interest rates since 2015 .

" The mood in the market is probably a little ahead of the event - said Ted Harper of Frost Investment Advisors LLC. Invest in gold in the next 6-12 months is likely to be problematic. Raising rates could be somewhat sharper and faster , which adversely affects the value of the precious metals . "

The dynamics also affect data that showed that manufacturing activity in China deteriorated again in March. The preliminary value of China's manufacturing index from HSBC fell to an eight-month low of 48.1 in March, with a final value of 48.5 in February. Analysts had expected the index to rise to 48.7 .

Meanwhile , the research group Markit said that preliminary index of manufacturing activity in Germany retreated to four-month low in March - to 53.8 from 54.8 in February , compared with expectations falling to 54.7 . Nevertheless , a preliminary value of the manufacturing index rose to 33 in France -month high of 51.9 in March from 49.7 in February , compared with expectations of an increase to 49.8 .

99.99 fine gold on the Shanghai Gold Exchange traded cheaper spot market and futures in the United States . Surcharge for gold bars in Hong Kong has not changed from last week - $ 1 per ounce to the spot price in London

Stocks of the world's largest gold exchange-traded fund secured SPDR Gold Trust rose on Friday by 0.52 percent to 816.97 tons.

The cost of the April gold futures on the COMEX today dropped to $ 1312.60 per ounce.


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