Gold loses its luster after the US central meeting

Singapore – (Reuters):

Gold down for a fourth session in five sessions on Thursday after the draw of the Federal Reserve (Fed) bright picture of the US economy, pointing out that the way to raise interest rates this year.

And reduced the prospect of higher US interest rates attractive asset is generating interest, such as gold, which helped to keep more gold for the highest level in five months that it reached last week.

The head of the research unit to Marc at Wing Fung Financial Group in Hong Kong, ” people have already adapted to the new policy and the reason for the rise of gold to a higher level. ”

The decline in the price of gold in the spot transactions 0.2 percent to $ 1282.11 an ounce by 0657 GMT, after losing 0.6 percent in the previous session. Gold reached its highest level in five months at $ 1306.20 an ounce on 22 January

And dropped the price of gold in US futures contracts for February delivery 0.3 percent to $ 1281.90 an ounce.

The dollar rose against a basket of currencies to near the highest level in 11 years, which reached next week after the Fed’s statement.

Among other precious metals silver price fell 0.78 percent to $ 17.81 an ounce.

Platinum fell 0.08 percent to $ 1252 per ounce, while the price of palladium rose 0.28 percent to $ 794.20 an ounce.

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