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George Ma
in
Futures
April 16 09:00

Gold is cheaper by more than 1%

Investors are fixing profits, according to the trading data.
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The value of gold has strengthened the decline and is already sinking by more than 1% in the correction after the growth earlier to a maximum from 2012, investors are fixing profits, according to the trading data.
As of 15:28 GMT time the price of June gold futures on the New York stock exchange Comex is declining by 1.45%, or $ 25.7, to $ 1743.2 per troy ounce. May futures for silver went down by 2.91%, to US$15.658 per ounce.
Growth of the dollar significantly influenced the prce of gold. Besides, traders fixed profits after the cost of gold has increased to the maximum since 2012.
This is a small correction, as the profit fixation amid the trading process is observed in recent weeks, UBS oil analyst Giovanni Staunovo stated.
Analyst also noted that gold may still rise up to 1800 dollars per ounce in the light of aggressive measures taken by central banks, in particular, the U.S. Federal Reserve (FRS).