{"id":46311,"date":"2014-01-15T06:23:44","date_gmt":"2014-01-15T11:23:44","guid":{"rendered":"http:\/\/countingpips.com\/forex-news\/?p=46311"},"modified":"2014-01-15T06:23:44","modified_gmt":"2014-01-15T11:23:44","slug":"gold-declines-further-on-fed-stimulus-outlook","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex-news\/2014\/01\/15\/gold-declines-further-on-fed-stimulus-outlook\/","title":{"rendered":"Gold Declines Further on Fed Stimulus Outlook"},"content":{"rendered":"

By HY Markets Forex Blog<\/a><\/u><\/strong> <\/p>\n

Gold declined for a second day from the highest level in a month on Wednesday as investors speculate that the Federal Reserve will reduce its bond purchases further, adding pressure on the bullion.<\/p>\n

The Yellow metal\u2019s contract for February dropped 0.36% lower to $1,240.50 an ounce on New York\u2019s Comex at the time of writing. While silver futures dropped for the second straight session, trading 0.75% lower at $20.135 an ounce.<\/span><\/p>\n

Assets in the world\u2019s biggest bullion-backed exchanged-traded fund came in 789.56 tones on Tuesday, dropping to a five-year low.<\/p>\n

Gold – US Dollar, US Stocks<\/span><\/h2>\n

The US dollar index edged 0.24% higher to 80.858 points at the time of writing.<\/p>\n

Stocks in New York advanced on Tuesday, boosted by the US macro data. The market was driven by the upbeat US retail sales report for December, rising 0.2% higher and beating analysts\u2019 forecasts.<\/p>\n

Meanwhile, the US businesses\u2019 inventories also reported positive figures, showing a rise of 0.4% higher in November.<\/p>\n

Gold – Fed Tapering<\/span><\/h2>\n

In December, the Federal Reserve announced they will cut its monthly bond purchases to $75 billion from $85 billion.<\/p>\n

Philadelphia\u2019s Federal Reserve (Fed) President Charles Plosser said he recommend the central bank should end its quantitative easing before late 2014. Plosser also said he forecast the unemployment rate would reach 6.2% by the end of the year.<\/p>\n

Charles Plosser supports the Fed\u2019s decision to scale-back its stimulus and commented on the labour marking performing better than expected.<\/p>\n

Dallas Fed President Richard Fisher also supported the Fed\u2019s December decision to begin to taper the quantitative easing program and said he would prefer the program scaled-back further by $20 billion.<\/p>\n

Members of the Federal Open Market Committee (FOMC) will gather for their next meeting on January 28-29.<\/p>\n

 <\/p>\n

Visit<\/i><\/strong>\u00a0<\/i><\/b>www.hymarkets.com \u00a0<\/a>\u00a0to find out more about our products\u00a0<\/i><\/b>and start trading today with only $50 using the latest trading technology today.<\/i><\/strong><\/p>\n

The post Gold Declines Further on Fed Stimulus Outlook<\/a> appeared first on | HY Markets Official blog<\/a>.<\/p>\n

Article provided by HY Markets Forex Blog<\/a><\/u><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

By HY Markets Forex Blog Gold declined for a second day from the highest level in a month on Wednesday as investors speculate that the Federal Reserve will reduce its bond purchases further, adding pressure on the bullion. The Yellow metal\u2019s contract for February dropped 0.36% lower to $1,240.50 an ounce on New York\u2019s Comex … <\/p>\n

Continue reading “Gold Declines Further on Fed Stimulus Outlook”<\/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-46311","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex-news\/wp-json\/wp\/v2\/posts\/46311","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=46311"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/forex-news\/wp-json\/wp\/v2\/posts\/46311\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex-news\/wp-json\/wp\/v2\/media?parent=46311"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex-news\/wp-json\/wp\/v2\/categories?post=46311"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex-news\/wp-json\/wp\/v2\/tags?post=46311"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}