The demand on the yellow metal today watched a decline. But why?
By the unexpected improvement today in the Asian market after a series of straight loses, we had watched a flow of money away from gold, and it’s heading toward the stock market of Asia today. The issue which support the down trend of gold price. Asian stock market had watched its perfect day during the trading today.
Fears demonstrate over the market before the Fed bank announcement. The second direct issue pushed gold market to the down trend. The fears from the Fed bank meeting are because no one could know that if they are going to put a plan to end the quantitive easing on this year or they were going to postponed it to the next year.
The previous reasons caused the stability of gold inside the same narrow trading level, which is between $1370 and 1400 USD/ Ounce. Gold price could hack out of this range in case of negative data from the Fed. It is expected to watch a rise in the gold market if the data came negatively. It is the only issue could support gold price over the level of $1400 USD/ Ounce of gold. My only tip for investors to keep away from the gold market.