Gold continues to rise

The value of gold rises a second day in a row . Positive price dynamics caused by technical purchases of gold, which in the previous trading days significantly cheaper , providing favorable conditions for opening long positions. The increased interest in buying gold formed after November 12 quoted prices slipped to near month low - up to 1260.5 dollars per ounce.

Meanwhile, investment demand for gold bullion continues to decline. The assets of the world's largest holder of gold investment institutions exchange traded fund SPDR Gold Trust at the end of the trading day on November 13 2013. decreased by 2.71 m and descended to the level of 865.71 m , updating its lowest since the beginning of February 2009

Global demand for gold in the 3rd quarter fell by 21 % compared with the same period last year , as large metal sales by Western investors have a more pronounced effect than the steady physical demand for gold in Asia. On Thursday said the World Gold Council (WGC).

The net outflow of gold reserves of exchange-traded funds in the last quarter was 119 tonnes. That's about half the amount for which the funds' holdings of gold declined in the 2nd quarter. At the same time , in the 3rd quarter of 2012, investors were net buyers of gold exchange-traded funds and stocks increased by 138 tonnes.

However , the physical demand for the metal remains fairly stable. At the end of the third quarter , that is, from January to September , the demand for gold jewelry , bars and coins totaled 2,896 tons, which is 26 % higher than in the same period of 2012.

The cost of the December gold futures on COMEX today rose to $ 1293.80 per ounce.