Gold: an overview of the market situation

Gold prices fell slightly after the highest growth for the three weeks of growth caused by the publication of a report on U.S. employment . The dynamics affect the likelihood of further reductions in the program of quantitative easing in the U.S. .

Investors continue to evaluate data on the U.S. labor market in March. As reported by the Ministry of Labour of the country , with the seasonally adjusted number of non-farm payrolls in March increased by 192 thousand added that the figures for January and February were revised by a total of 37,000 . Nevertheless , the unemployment rate remained at the same value in March - at 6.7 %. Economists forecast that the number of employees will grow by 196 thousand and the unemployment rate dropped to 6.6%.

Analysts note that the higher rate of employment would increase the likelihood of higher interest rates in the United States in the near future , and low interest rates - one of the most important incentives for higher gold prices in recent years.

Market participants are also waiting for the publication of minutes of the meeting of the Federal Reserve in March . Such data can exert significant pressure on the dynamics of market prices. Recall that during this meeting it was decided to decrease the volume of the quantitative easing program in the amount of $ 10 billion for the third consecutive time. Thus, the monthly amount of redemption will be now about 55 billion dollars. Moving at a pace further regulator can completely abandon the loose monetary policy in the autumn of this year. Most analysts hoped to see the outcome of the meeting in a more precise allusions to the program deadlines . In addition, they want to know when will increase the base interest rate . At the moment, there are suggestions that the rate increase from the current level of 0-0.25 % will begin no earlier than mid- 2015.

Meanwhile, adding that stocks the world's largest gold exchange-traded fund secured SPDR Gold Trust on Friday fell by 1.8 tonnes to 809.18 tonnes.

Demand in the physical market dropped as markets in China , the world's largest consumer of gold, closed on the national holiday .

The cost of the June gold futures on the COMEX today dropped to $ 1300.70 per ounce.