{"id":40474,"date":"2013-07-31T03:08:15","date_gmt":"2013-07-31T07:08:15","guid":{"rendered":"http:\/\/countingpips.com\/forex-news\/?p=40474"},"modified":"2013-07-31T03:08:15","modified_gmt":"2013-07-31T07:08:15","slug":"gold-declines-ahead-of-fed-meeting","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex-news\/2013\/07\/31\/gold-declines-ahead-of-fed-meeting\/","title":{"rendered":"Gold declines ahead of Fed meeting"},"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 were seen trading low on Tuesday as investors focus on the two-day Federal Reserve (fed) meeting, where they could get a possible hint as to when the central bank intends to start scaling back on its stimulus program.<\/p>\n<p>The yellow metal futures fell 0.46% lower, trading at $1,323.40 an ounce, while the silver futures were down 1.36% at $19.595 an ounce at the time of writing.<\/p>\n<p>Gold correlates inversely with the US dollar and dropped after trading flat as the European trading hours began. The US dollar index has had a slight advance due to investor\u2019s assumptions ahead of the Federal Reserve meeting.<span id=\"more-2135\"><\/span><\/p>\n<p>The US dollar index slightly strengthened against some of its major counterparts, adding 0.06% to 81.710 at the time of writing. The US dollar index remains low compared to the near three-year high of 84.75 as of the beginning of the month of July.<\/p>\n<p>Holdings in the largest gold-backed exchange-traded fund SPDR Gold Trust remained unchanged at 927.35 tonnes on Monday. Volume of the holdings dropped just under 1,000 in the month of June.<\/p>\n<p>With worries regarding the Fed\u2019s decision on scaling back the monetary stimulus program, the yellow metal dropped by more than 20% this year. Gold futures reached a three-year low in the month of June.<\/p>\n<p>Prices of the yellow metal reached a five-week high of $1,347.69 an ounce on July 23<sup>rd<\/sup> &amp; July 24<sup>th<\/sup>.<\/p>\n<p>The post <a href=\"http:\/\/blog.hymarkets.com\/metals\/gold-declines-ahead-of-fed-meeting.html\">Gold declines ahead of Fed meeting<\/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 were seen trading low on Tuesday as investors focus on the two-day Federal Reserve (fed) meeting, where they could get a possible hint as to when the central bank intends to start scaling back on its stimulus program. The yellow metal futures fell 0.46% lower, trading at $1,323.40 &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.investmacro.com\/forex-news\/2013\/07\/31\/gold-declines-ahead-of-fed-meeting\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Gold declines ahead of Fed meeting&#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-40474","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex-news\/wp-json\/wp\/v2\/posts\/40474","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=40474"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/forex-news\/wp-json\/wp\/v2\/posts\/40474\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex-news\/wp-json\/wp\/v2\/media?parent=40474"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex-news\/wp-json\/wp\/v2\/categories?post=40474"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex-news\/wp-json\/wp\/v2\/tags?post=40474"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}