The Conversation (0)
News that Russia may persuade Syria to turn over its chemical weapons, and speculation the US Federal Reserve will taper its stimulus, weighed on gold prices today.
News that Russia may persuade Syria to turn over its chemical weapons, and speculation the US Federal Reserve will taper its stimulus, weighed on gold prices today. The metal fell $21.83 to $1,364.34 an ounce earlier today before improving slightly to $1,366.25 an ounce, Reuters reported.
Gold futures for December delivery were also down $20.20 to $1,366 an ounce.
“After the sell-off last week, it’s a case of people not wanting to put substantial risk ahead of the Fed and it is probably going to remain like that until the central bank’s meeting next week,” said Standard Bank analyst Walter de Wet. “The news on Syria has definitely taken some of the edge off crude oil prices and gold is impacted.”
