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Gold prices 'held back by lack of Fed action'

16th January 2012

Investors have pulled back from gold in commodity trading over recent weeks as a result of inaction from the Federal Reserve, it has been claimed.

Michael Lally, director at Thesis Asset Management, said a lack of quantitative easing measures in the US have served to reduce liquidity in the markets and this is holding back many indices from forging ahead and making significant gains at present..

He commented: "While real interest rates remain low and political uncertainties (in Europe and the Middle East) [are] high, then with much of the speculative froth withdrawn, we see this as an opportunity to increase exposure."

According to recent market movement, spot gold prices rose last week on the back of a positive Spanish government bond sale.

Spot gold was up by one per cent at $1,656.89 as of 12:51 GMT on Thursday (January 12th) and earlier in trading touched a one-month high of $1,657.60.

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CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 76.3% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.