After a rise and shine in a few days, the gold price declines. The price of gold fell to the lowest price since January 2012 after the U.S. central bank policy makers, the Federal Reserve, raising their assessment of the economy. Positive assessment of were signal that monetary stimulus will not be added.
Spot price of gold for fast delivery fell 1.8 percent to US$ 1670.15 per troy ounce (equivalent to 31.1 grams) on Tuesday (3/13/2012) 3:53 pm New York time. Earlier, gold tumbled 2.2 percent to its price of US$ 1666.13, which is the lowest price since January 25, 2012.
Gold futures exchange for April delivery was down 0.3 percent to 1694.20 dollars per troy ounce on Tuesday at 1:50 pm, at the Comex in New York. After the close of trading, the gold contract fell 2.2 percent to a price of 1662.10 U.S. dollars.
Along with the statement of the Federal Open Market Committee that said the U.S. labor market continues to improve, the U.S. dollar also strengthened against several major currencies. As a result, the investment of the market players at gold also declined.
On 29 February, the spot price of gold fell 4.9 percent, the biggest since December 2008, after the Governor of The Fed - Ben S Bernanke dampen speculation that the central bank would take new steps to boost liquidity. It's a huge disappointment for gold investors of anticipate an additional stimulus. People are still happy to hold dollars rather than gold
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