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Gold sees fall following FEDs announcement

Gold prices saw a fall on Wednesday, following Feds directives of no big policy changes in the Reserve monetary policy in the near term. This has come soon after the gold saw a fall in both spot on future prices are a market correction following a huge bull run in the gold prices that continued a few months in a row. The February delivery in the gold futures market was recently down $1.40, or 0.1%, at $1,330.90 a troy ounce in the New York Mercantile Exchange. With the investors gaining more and more confidence in the growth prospects of global economy, gold has till date lost 6.4% so far. Gold, which was seen as a hedge against financial turmoil and European sovereign debt issues seems to have been loosing its preference with its fond investors in the current markets.

25th Jan Tuesday 2011 Gold Bug

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