Gold fell as investors expected a policy statement of U.S. Fed and new EC data

Gold edges lower as investors await Federal Reserve

Gold fell on Wednesday as investors anxiously expected a policy statement of the U.S. Fed and new financial data, the political tensions in Ukraine failing to an early heavy offers safe haven.

The Fed draw up a declaration later Wednesday by the end of its monetary policy meeting held to two days to look into the stance of U.S. central bank markets on more restrictive monetary policy. That data on the recruitment of private sector and GDP growth is also expected.

Spot gold was dropped 0.2% to $ 1293.21 an ounce at 0337 GMT, after closing up at the previous session.

The Fed will to go on comparing their massive bond-buying stimulus, and they can also tackle issues such as the timing of a rate hike, although no major changes are expected.

Data for GDP may display a a predictable brutal winter cold put a damper on the U.S. economy during the first quarter, but the data since the beginning of the second quarter was positive.

Friday is also the key to the markets such as non-agricultural payrolls report U.S. will be announced. An upturn in the economy and the downturn in the stimulus sore the appeal of gold as an investment versus other assets.

Meanwhile, hundreds of pro-Moscow secessionist broke into government buildings in one of the provincial capitals of the Ukraine on Tuesday and opened fire on the police hiding in a local located, a major escalation of the uprising although new Western sanctions in Russia.

The geopolitical tensions tend to increase gold’s appeal as a safe haven asset. Gold has gained from escalating tensions Ukraine this year, but has recently been overwhelmed by strong economic data.

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Posted in Commodity

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