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In the morning, the price of December gold futures on the New York Comex exchange was down 1.68%, or $29.95, to $1,748.6 per troy ounce. December silver futures were down 1.04% to $22.668 an ounce.
On Thursday, investors were wagering the outcome of the Federal Reserve meeting, in which the regulator has kept the refinancing rate at 0-0.25% per annum and a program of buyout of financial assets from the market of 120 billion dollars a month.
At the same time, financial markets were optimistic when Fed governor Jerome Powell said that the reduction of the asset buyback programme will be gradual and will probably end around the middle of next year. US and European stock indices as well as oil prices were rising noticeably. Against this background demand for safe haven assets, which includes gold, is decreasing and the precious metal is becoming cheaper.
source: bloomberg.com
On Thursday, investors were wagering the outcome of the Federal Reserve meeting, in which the regulator has kept the refinancing rate at 0-0.25% per annum and a program of buyout of financial assets from the market of 120 billion dollars a month.
At the same time, financial markets were optimistic when Fed governor Jerome Powell said that the reduction of the asset buyback programme will be gradual and will probably end around the middle of next year. US and European stock indices as well as oil prices were rising noticeably. Against this background demand for safe haven assets, which includes gold, is decreasing and the precious metal is becoming cheaper.
source: bloomberg.com