Gold reached a 7- week low

Gold prices fell to a minimum of seven weeks due to the outflow of investments backed by gold exchange-traded funds in riskier assets .

Stocks of the world's largest exchange-traded fund backed by gold (ETF) SPDR Gold Trust on Monday fell by 3.89 tons to 813.08 tons , the biggest outflow of more than a month .

The price of gold 99.99 fine on the Shanghai Gold Exchange at $ 1 per ounce below the spot price in London , compared with a discount of $ 8 in March , dealers said .

Reduction occurs on a background of gold as investors about the outlook for policy tightening by the Federal Reserve System .

The U.S. economy is still " some time " will need to be supported , said yesterday the Fed chief Janet Yellen . Yellen said on March 19 that the controller can start to raise rates about six months after completion of the redemption in this year.

Gold has completed the first month of this year, a fall - fell from a high of quotes the past six months , recorded March 17 , when the demand for the precious metal rose amid the Crimea to Russia . Russia yesterday began to divert troops from the border with Ukraine, which took place the last two days of talks Ministers of Foreign Affairs of the Russian Federation and the United States helped ease investors' concerns about the possible escalation of the crisis .

The cost of the June gold futures on the COMEX today dropped to $ 1277.40 per ounce.