Gold holds near $1,300
Adam Pike, News Editor
8 Apr 2014, 10:04 a.m.
Bullion for immediate delivery traded at $1,299.39 per ounce overnight as investors wait for the release of the minutes from the Feds latest meeting.
Traders will be looking to the Fed for further guidance on how quickly they are going to cut their monthly asset program known as quantitative easing.
According to Lv Jie, analyst at Cinda Futures, gold will remain under pressure as U.S. economy continues to show improvement and political tensions in the Ukraine ease. In the short term Jie believes gold will trade in a tight range as traders wait for further details from March’s meeting.
Assets held in the world’s largest exchange traded fund remained unchanged yesterday at 809.18 metric tonnes
Silver increased 0.2% to $19.918 per ounce, palladium climbed 0.3% to $768.40.25 per ounce and platinum slipped from $1,428.94 to $1,427.50 per ounce.