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Gold is cheaper on profit-taking
Gold becomes cheaper due to profit taking and technical selling after a significant increase on Tuesday, when U.S. President Barack Obama received the support of the Congress leaders in the plans of a military operation in Syria.
Obama is planning military strikes against Syria, secured the support of the leaders of the Congress , and Russia made clear that it could agree to the use of force , if they are evidence of the use of chemical weapons by the Government of Syria.
Gold prices recovered on the eve of the position above the level of $ 1,400 , when the top U.S. lawmakers have expressed support for President Barack Obama calls for a military strike against Syria. House Speaker John Boehner said that only the U.S. has the ability to stop the Syrian President Bashar al-Assad and to prevent the use of chemical weapons by other countries.
Gold is widely considered to be protected from geopolitical instability , since it retains its value better than other assets.
Support prices also have a strike in the gold mines of South Africa.
The cost of the October gold futures on COMEX today dropped to $ 1385.70 per ounce.
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