Gold prices declined markedly today, approaching at the same time to the level of $ 1,200 per ounce and has lost much of the increase last week. Recall precious metal jumped nearly 3% last week as steep losses on oil and stock markets fueled increased demand for safe assets amid lingering concerns about the global economic slowdown.

The course of today's trading affects the strengthening of the US dollar and expectations of the upcoming Fed meeting, on which market participants are hoping to get clues about the timing of rate increases. Experts specializing in the projections of US policy, note that the Fed could remove the phrase "extended period" and replace it with the phrase about the slow rate increase, depending on the incoming data. However, do not reach the target level of inflation in the United States could force the monetary authorities to remain faithful to the formulation of the long-term. With recent indicators on employment growth markets rely on central bank forecasts increase in GDP for 2015 and 2016., As well as reducing the forecasts for inflation and unemployment.

Little impact on prices also helped US data showing that industrial production rose to a seasonally adjusted 1.3% in November. This is the largest increase since May 2010. Economists had expected an increase of 0.8%. Another sign of the gain was a small upward adjustment of data on industrial production in the last three months. In November, manufacturing output rose by 1.1%, and on a broad basis. Production of consumer goods increased by 2.5%, and the largest growth rate since August 1998. In the municipal sector issuance jumped 5.1% against the cold weather last month. In the mining sector, however, production decreased - by 0.1%. Capacity utilization rose to 80.1%. This is higher than 79.4%, mentioned in the consensus forecast, and the highest rate since March 2008.

Meanwhile, investors remain cautious about the stagnating economy and the euro zone after the unexpected decision of the Greek government to postpone the parliamentary vote on the election of the president on December 17, which is two months ahead of schedule.

The cost of the December gold futures on the COMEX today fell $ 12.9 to 1209.10 dollars per ounce.