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Gold fell
The price of gold declines on concerns about further reductions in the U.S. Fed QE3 .
For the week of February futures fell 2.5%. Thus, all goes to the fact that gold is cheaper for the year for the first time in 13 years . As of Friday , gold futures for the beginning of 2013 fell by 27%.
Since the leaders of the Federal Reserve this year began signaling a possible reduction of bond-buying program , investors have to get rid of gold.
The final blow was struck on Wednesday, when the Fed announced a reduction by 10 billion dollars a month, to $ 75 billion . On Thursday futures closed at its lowest level since August 2010.
Gold prices in the coming weeks will also depend on whether it will become the largest consumers in Asia continue to consider this metal as a profitable investment after he fell .
Demand for gold bars, coins and jewelry this year flew several times when investors from Dubai to Beijing to benefit from several years of unprecedented gold prices. In recent months, this demand has grown cold , but analysts and traders said last week he showed signs of recovery .
Cost February gold futures on the COMEX today dropped to $ 1191.80 per ounce.
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