{"id":62743,"date":"2014-10-29T08:29:04","date_gmt":"2014-10-29T12:29:04","guid":{"rendered":"http:\/\/countingpips.com\/?p=62743"},"modified":"2014-10-29T08:47:22","modified_gmt":"2014-10-29T12:47:22","slug":"gold-little-changed-with-fed-in-spotlight","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2014\/10\/gold-little-changed-with-fed-in-spotlight\/","title":{"rendered":"Gold Little Changed With Fed in Spotlight"},"content":{"rendered":"
October 29, 2014<\/div>
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By HY Markets Forex Blog<\/a><\/u><\/strong> <\/p>\n

Gold prices were a little changed on Wednesday before the US Federal Open Market Committee\u2019s (FOMC) announcement.<\/p>\n

Gold futures for December delivery declined 0.2% to $1,227.40 an ounce on the Comex in New York, while the yellow metal for immediate delivery was a little changed at $1,227.74, according to Bloomberg generic pricing. Silver futures fell 0.2% to $17.19 an ounce.\u00a0<\/span><\/p>\n

FOMC Statement<\/span><\/h2>\n

With the US Federal Reserve in the spotlight, investors are expecting the FOMC to end to its monetary easing program by eliminating its remaining $15 billion worth of monthly asset purchases and keeping its key interest rate unchanged at 0.25%.<\/p>\n

In September, the Fed said it would end its quantitative easing in October as the economy\u2019s growth remains steady. Bookings for goods for the last three months fell 1.3% after the 18.3% fall in August, according to a report from the US Commerce Department.<\/p>\n

Assets in the world\u2019s largest gold-backed exchange-traded fund, SPDR Gold Trust declined 1.8 metric tons to 1,652.1 tons on Tuesday, marking a five year low. \u00a0A data from the international Monetary Fund website showed that Russia and Kazakhstan were among the nations that added bullion to reserves in September.<\/p>

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Meanwhile, on November 30, Switzerland voters will be voting in a referendum on gold, which could force the Swiss National Bank (SNB) to increase its gold reserves by tons of gold in the event of a yes vote.<\/p>\n

“The market impact of a yes-vote would likely be quite spectacular,” said UBS\u00a0strategist Beat Siegenthaler.<\/span><\/p>\n

A yes vote in the gold referendum is expected to weigh on gold prices.<\/p>\n

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The post Gold Little Changed With Fed in Spotlight<\/a> appeared first on | HY Markets Official blog<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

By HY Markets Forex Blog Gold prices were a little changed on Wednesday before the US Federal Open Market Committee\u2019s (FOMC) announcement. Gold futures for December delivery declined 0.2% to $1,227.40 an ounce on the Comex in New York, while the yellow metal for immediate delivery was a little changed at $1,227.74, according to Bloomberg […]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-62743","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/62743","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/comments?post=62743"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/62743\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=62743"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=62743"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=62743"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}