{"id":39187,"date":"2013-06-21T05:53:06","date_gmt":"2013-06-21T09:53:06","guid":{"rendered":"http:\/\/countingpips.com\/forex-news\/?p=39187"},"modified":"2013-06-21T05:53:06","modified_gmt":"2013-06-21T09:53:06","slug":"gold-drops-below-1300-lowest-since-10","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex-news\/2013\/06\/21\/gold-drops-below-1300-lowest-since-10\/","title":{"rendered":"Gold drops below $1,300; lowest since \u201810"},"content":{"rendered":"<p><strong>By <u><a href=\"http:\/\/blog.hymarkets.com\/\" target=\"_blank\">HY Markets Forex Blog<\/a><\/u><\/strong> <\/p>\n<p>Gold futures dropped to a low $1,269.46 during the Asian trading hours, lowest since September 2010. The S&amp;P GSCI gauge of 24 commodities dropped to a low 4.4%, while the MSCI Index of equities climbed 3.8%. The index from the Bank of America shows that the Treasuries dropped 2.4%.<\/p>\n<p>The yellow metal traded higher with 0.79% at $1,295.50 per ounce as of 7:45 am GMT, at the same time, silver fell by 0.1% lower at $19.815 per ounce.<span id=\"more-2026\"><\/span><\/p>\n<p>Gold fell as much as 7% on Thursday, marking the decrease of $88 to the closing reading of $1,286.20.<\/p>\n<p>Other large speculators and hedge funds cut their position by 4.1% to 54,779 contracts in the week ended June 11, according to the U.S commodity futures trading commission data.<\/p>\n<p>Wednesday\u2019s statement from the Federal Reserve\u2019s conclusion, disclosed that the Federal Open Market Committee (FOMC) will keep its monthly $85 billion asset purchases unchanged, however the Fed Chairman Mr. Bernanke hinted a possible cut in its bond-purchase program towards the end of the year and end around mid-2014 if the U.S economy should pickup.<\/p>\n<p>The unemployment rate should shift between 7.2% and 7.3% by the end of the year before its falls between 6.5% to 6.8% by the end of 2014, according to the last forecast released. The Gross domestic product (GDP) is expected to rise between 2.3% and 2.6%.<\/p>\n<p>The post <a href=\"http:\/\/blog.hymarkets.com\/gold\/gold-drops-below-1300-lowest-since-10.html\">Gold drops below $1,300; lowest since \u201810<\/a> appeared first on <a href=\"http:\/\/blog.hymarkets.com\">| HY Markets Official blog<\/a>.<\/p>\n<p> Article provided by <strong><u><a href=\"http:\/\/blog.hymarkets.com\/\" target=\"_blank\">HY Markets Forex Blog<\/a><\/u><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>By HY Markets Forex Blog Gold futures dropped to a low $1,269.46 during the Asian trading hours, lowest since September 2010. The S&amp;P GSCI gauge of 24 commodities dropped to a low 4.4%, while the MSCI Index of equities climbed 3.8%. The index from the Bank of America shows that the Treasuries dropped 2.4%. The &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.investmacro.com\/forex-news\/2013\/06\/21\/gold-drops-below-1300-lowest-since-10\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Gold drops below $1,300; lowest since \u201810&#8221;<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-39187","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex-news\/wp-json\/wp\/v2\/posts\/39187","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/forex-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/forex-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex-news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex-news\/wp-json\/wp\/v2\/comments?post=39187"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/forex-news\/wp-json\/wp\/v2\/posts\/39187\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex-news\/wp-json\/wp\/v2\/media?parent=39187"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex-news\/wp-json\/wp\/v2\/categories?post=39187"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex-news\/wp-json\/wp\/v2\/tags?post=39187"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}