18th November 2013
Gold futures have declined in commodities markets today (November 18th), though losses have been limited amid speculation the Federal Reserve will maintain its quantitative easing programme into 2014.
A US manufacturing index and industrial production report came in below estimates on Friday, reinforcing the view the country's recovery is not yet secured.
Janet Yellen, who has been formally nominated to replace Ben Bernanke as Fed chair, told the Senate Banking Committee last week that there are dangers to ending stimulus too soon and indicated she would support a prolonged accommodative monetary policy.
Investors are now keenly awaiting the release of the minutes from the central bank's latest policy meeting, which are due to be published on Wednesday. The country's forthcoming retail sales and consumer price reports are also likely to impact on prices.
Gold for December delivery declined by 0.2 per cent in European morning trade on the Comex division of the New York Mercantile Exchange, having closed 0.09 per cent higher on Friday.
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