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Gold stabilized
Gold prices have stabilized slightly above the five-week low , as investors await news from the Fed about the reduction incentive program .
From the beginning, gold fell by more than 20 per cent as the growing U.S. economy has made the precious metal less attractive as a low-risk assets .
According to economists, the two-day meeting, which will begin on Tuesday , the Fed will reduce the amount of buying bonds of at least $ 10 billion a month from the current $ 85 billion .
Given the current economic situation in the U.S., experts expect only a small reduction in incentives. Therefore, gold will continue to receive support . At the same time, if the Fed does not reduce incentives this year , experts believe that gold at the end of the year will cost $ 1.400-1.500 per ounce.
A peaceful solution to the Syrian problem had a negative impact on the gold market , but the message that former U.S. Treasury Secretary Lawrence Summers , withdrew his candidacy for the post of chairman of the Fed, prices will rise , analysts said.
The cost of the October futures on the COMEX gold is trading today in the range of $ 1306.70 - $ 1323.60 per ounce.
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