{"id":39412,"date":"2013-06-28T08:52:47","date_gmt":"2013-06-28T12:52:47","guid":{"rendered":"http:\/\/countingpips.com\/forex-news\/?p=39412"},"modified":"2013-06-28T08:52:47","modified_gmt":"2013-06-28T12:52:47","slug":"gold-drops-below-1200-while-still-negative","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex-news\/2013\/06\/28\/gold-drops-below-1200-while-still-negative\/","title":{"rendered":"Gold drops below $1,200, while still negative"},"content":{"rendered":"<p><strong>By <u><a href=\"http:\/\/blog.hymarkets.com\/\" target=\"_blank\">HY Markets Forex Blog<\/a><\/u><\/strong> <\/p>\n<p>The yellow metal fell to its lowest level in almost three years, dropping as low as $1,179 per ounce. Gold fell after the US Federal Reserve hinted it could cut back its stimulus program.<\/p>\n<p>Gold futures fell 0.83 percent standing at $1,201.25 an ounce at 8.04am GMT, while the silver futures rose 1.70 percent trading at $18.700 an ounce at the same time.<span id=\"more-2055\"><\/span><\/p>\n<p>The precious metal has dropped more than $100 over the past week, with beginning the week at $1,301.55 an ounce.<\/p>\n<p>With Gold prices weighing down with more than 25% this quarter, the largest gold-backed exchange-traded fund, were trading with the same rate at 969.50 tonnes on Thursday.<\/p>\n<p>The gold prices in the past years have been driven by the uncertainty of the surrounding the global economic condition after the financial crisis in the eurozone.<\/p>\n<p>The US dollar Index rose 3.06% standing at 82.940, since the announcement from the Federal Reserve (Fed) last week regarding the possible cut back in the $85 monthly bond-purchase program.<\/p>\n<p>Fed\u2019s Chairman Mr Ben S. Bernanke said its might adjust the $85 billion quantitative easing (QE) program if the US economy is t move later this year.<\/p>\n<p>The soaring house price, durable foods and the solid confidence numbers are expected to pick next year to ease off the QE stimulus program.<\/p>\n<p>The Personal Consumption Expenditures (PCE) Price Index rose to 1.0% in May from0.7% in previous month.<\/p>\n<p>&nbsp;<\/p>\n<p>The post <a href=\"http:\/\/blog.hymarkets.com\/metals\/gold-drops-below-1200-while-still-negative.html\">Gold drops below $1,200, while still negative<\/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 The yellow metal fell to its lowest level in almost three years, dropping as low as $1,179 per ounce. Gold fell after the US Federal Reserve hinted it could cut back its stimulus program. Gold futures fell 0.83 percent standing at $1,201.25 an ounce at 8.04am GMT, while the silver &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.investmacro.com\/forex-news\/2013\/06\/28\/gold-drops-below-1200-while-still-negative\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Gold drops below $1,200, while still negative&#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-39412","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex-news\/wp-json\/wp\/v2\/posts\/39412","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=39412"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/forex-news\/wp-json\/wp\/v2\/posts\/39412\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex-news\/wp-json\/wp\/v2\/media?parent=39412"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex-news\/wp-json\/wp\/v2\/categories?post=39412"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex-news\/wp-json\/wp\/v2\/tags?post=39412"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}