11th December 2013
Gold has declined from its strongest level in three weeks today (December 11th), with investors seeking to lock in profits on the sharp rally experienced yesterday.
Amid increasing speculation the Federal Reserve will reduce its monetary stimulus at its December 17th-18th policy meeting, bullion prices soared during Tuesday's session.
The metal has declined by more than 26 per cent in commodities markets over the course of 2013, largely as a result of uncertainty regarding the future of the US central bank's quantitative easing programme. It is on course to record its first annual drop in 13 years.
Having advanced by more than two per cent yesterday, gold for February delivery fell by 0.35 per cent to $1,256.60 per ounce in electronic trading on the Comex division of the New York Mercantile Exchange.
Silver for March settlement declined by 0.25 per cent to $20.26 per ounce, following yesterday's gain of more than three per cent.
Begin trading today! Create an account by completing our form
At One Financial Markets we are committed to safeguarding your privacy.
Please see our Privacy Policy for details about what information is collected from you and why it is collected. We do not sell your information or use it other than as described in the Policy.
Please note that it is in our legitimate business interest to send you certain marketing emails from time to time. However, if you would prefer not to receive these you can opt-out by ticking the box below.
Alternatively, you can use the unsubscribe link at the bottom of the Demo account confirmation email or any subsequent emails we send.
By completing the form and downloading the platform you agree with the use of your personal information as detailed in the Policy.