Gold: an overview of the market situation

After a little hesitation , gold prices have stabilized after all , being near the opening level . Note that the focus of the market remain yesterday's comments head of the Federal Reserve Bank of Philadelphia Charles Plosser , who said that the Federal Reserve should put an end to the program of asset purchases , which is 85 billion dollars a month. However , Janet Yellen , the main candidate for the post of chairman of the Federal Reserve, which currently holds the Ben Bernanke said Nov. 14 that it will continue the program until the U.S. economy recovers.

Note also that many traders begin to exercise caution , as investors awaited release of the last Fed meeting protocols . Protocols will be published tomorrow and will provide guidance on the plans of the central bank for the duration of the program of monthly bond purchases , which in recent years support the gold price. Rising interest rates in the U.S. and lower premiums for the risks of the stock market are negative factors for gold.

Meanwhile, experts Deutsche Bank noted that " the reduction or stabilization of the rate of outflow of investors from the gold exchange-traded funds can help to rally in prices in the short term. The dynamics of the price of gold may be even better if the Fed delayed the start of folding stimulus measures until next year"

Also today it was announced that stocks SPDR Gold Trust, the world's largest ETF- fund fell by 864.51 tons yesterday , that is, to the lowest level since February 2009 .

The cost of the December gold futures on COMEX today rose to $ 1274.90 per ounce.