Gold drew support at $ 1600 an ounce today, Thursday, but support is limited, not clear whether the European Central Bank will take bold steps to address the debt crisis of the region, after his U.S. counterpart dashed any hopes of stimulating and imminent.
Did not announce the Federal Reserve (Fed) New measures to facilitate the cash after a two-day meeting, despite the approval deterioration of the economy. The more strongly that it might buy more bonds to help revive the economy.
Spot gold fell 0.9% yesterday, Wednesday, its biggest daily loss in three weeks, following the decisions of the central U.S., and investors about their focus to a meeting of the Committee of European monetary policy, the CBE board later in the day.
Said Lynette Tan, an analyst at Phillip Futures in Singapore, “investors took profits yesterday after a meeting of the Federal Reserve, European Central announced if any positive action today, it is likely to put pressure on the dollar and gold supports.”
Gold rose in the spot market 0.2% to 1602.08 dollars per ounce, while the U.S. futures contracts fell for gold for December delivery 0.1% to 1605.60 dollars an ounce.
Rose silver 0.15% to $ 27.44 dollars, while the platinum 1% up to 1394.75 dollars an ounce, after tumbling 1.3% in the previous session, its biggest daily loss in three weeks, and the decline palladium 1.2% up to 579.53 dollars an ounce.