Gold prices are still bearish

The price of gold today is still the possibility of a bearish move. The threat of economic crisis in the United States began to improve, as stronger U.S. economic data U.S. ADP Non-Farm shot up.

Private sector job creation rose during November, ADP reported 215,000 for a new job in order to start reducing monthly stimulus.

The Federal Reserve plans to reduce monetary stimulus. Wait and see the outcome of the FOMC Meeting December 18 to make the price of gold going back bearish. The U.S. central bank will hold an important meeting on December 18 to 19 later to discuss the continuation of the program of monetary stimulus.

Two weeks before the meeting was held, a number of important U.S. economic data are taken into consideration for the U.S. central bank's monetary policy change. With the decline in investor demand for safe haven assets will (gold), with a background of a strengthening U.S. dollar and rising U.S. bond yields also reinforces the value of the U.S. stock market, gold market conditions to be less profitable.

The consumer confidence index also jumped to the highest level in the last five years, other than that, the pressure on gold prices compounded by the Indian central bank 's decision will not serve the credit to banks to import gold bars.

Furthermore, the U.S. central bank plans to buy back government bonds up to U.S. $ 85 billion. The Fed 's move caused the value of the U.S. dollar stronger and help the U.S. economic recovery.

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Ditulis oleh William Perkasa pada tanggal Dec 10, 2013