Gold: an overview of the market situation

Gold prices fell slightly today , but still reduced their early losses , as many market participants continue to analyze Friday's U.S. employment data . In addition, the course of trade affect the expectations that the Fed may still insist on some reduction of monetary stimulus . Note that the assumptions on the fact that the U.S. central bank may cut back on their monthly purchases of bonds in the amount of $ 85 billion , which is a key factor in price increases, contributed to the fall in gold prices this year by 17 % after more than a decade of growth.

Also today it was announced that hedge funds and other speculators increased bullish positions in gold , amid concerns that the conflict in the Middle East will drive the price of crude oil will slow down economic growth and ignite inflation.

Net long positions rose by 3.6 percent to 101,396 futures and options in the week ended Sept. 3 , - data showed US Commodity Futures Trading Commission. Long positions rose 0.6 percent, and short contracts fell by 8.6 percent . Net bullish stance on U.S. 18 tradable goods fell 0.3 percent, as investors have become less optimistic about copper.

Meanwhile, we add that many traders are closely watching the Indian demand for gold, which usually reaches its peak in the fourth quarter against the fact that officials of the largest consumption of gold country in the world have taken measures to curb imports in an attempt to reduce a record current account deficit .

The cost of the October gold futures on COMEX today rose to $ 1388.20 per ounce.