The price of gold rose sharply, while restoring all losses

During most of the day, gold was traded restraint, demonstrating a slight increase. But in spite of this trend, the value of precious metals fell sharply, which was caused by the publication of data on the U.S., which increased the likelihood that the Federal Reserve may stop holding of its accommodative monetary policy.

It is learned that the number of initial claims for unemployment benefits in the U.S. fell for the week ending January 12 to 335,000 level while still achieving the lowest level in the last five years.

Note also that many economists expect that the value of the indicator will rise to the level of 370 000 hits.

After the release of the data, experts said that if the trend continues, the central bank may discontinue its program to buy bonds earlier than expected.

Note that the spot gold traded at $ 1,681 an ounce before the talk, but fell to $ 1666.25 after the data.

However, after prices rose to $ 1683.8, which was associated with the release of the Philadelphia Fed manufacturing index, which fell in January to -5.8 from 4.6.

February futures price of gold on COMEX today rose to 1686.80 dollars per ounce.