Cost of gold fell sharply

During the session, the price of gold traded in the trading range of the previous day in anticipation of the meeting of heads of central banks at a symposium in Jackson Hole and waiting to hold another round of quantitative easing, the Fed, but fell sharply against the strengthening of the dollar, updating the yesterday's low.

Cost dragmetala rose more than 2% since the last publication of the Fed minutes on August 22, which gave hope of stimulus measures to support economic growth, which is a positive factor for gold.

However, some analysts believe gold, along with other assets, may be vulnerable if Bernanke does not meet the expectations of market participants.

Uncertainty about the central bank's actions have had a negative impact on the share price in the world and commodity prices, while nervousness ahead of the meeting reduces appetite for risk.

Any sign to hold QE will provide additional support for the euro, which is likely to continue to strengthen if the ECB will provide specific plans to help reduce borrowing costs in Spain and Italy.

Also worth noting that investment in gold exchange-traded funds rose sharply this month to almost 38 tons, thus showing the biggest monthly inflow since November.

The cost of the September gold futures on the COMEX is now 1650.7 dollars per ounce.