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investing in gold: Gold fell during the trading session on Wednesday, as investors remained cautious ahead of the outcome of the meeting of the Bank expected later in the Fed today.
On the Comex division of the New York Mercantile Exchange, gold fell delivery in April increased by US $ 3.50 per equivalent ounce or 0.27%, to trade at $ 1,289.40 a troy ounce during European morning trade, and prices traded in a range between 1,286.90 and $ 1,294.60 per ounce.
On the previous day, gold rose 12.50, or the equivalent of 0.98%, to close at $ 1,292.90 per ounce after the durable goods gloomy data from the United States, which has cast a shadow on the prospects of economic recovery.
And was likely to find support gold at $ 1,273.00 per ounce, the lowest price since January 27 and resistance at $ 1,308.80 per ounce, the highest price since January 22.
Also in the Comex, silver March delivery fell 7.6 cents, or equivalent to 0.42%, to trade by $ 18.00 an ounce. On Tuesday, silver rose 1.10 cents, or 0.56%, to close at $ 18.08 per ounce.
Later in the day investors awaited the outcome of the Fed meeting, with expectations that the Bank continues to cling to his position on the waiting period before applying further monetary policy.
Investors are trying to audit the Fed's statement format to reflect expectations that interest rates will remain unchanged near zero levels for some time in the future.
And the dollar index, which measures the strength of the dollar against a basket of six major currencies, rose 0.25% to trade at 94.48 after falling to its lowest level in almost a week by 93.95 in the previous session.
Elsewhere in metals trading, March copper / March delivery rose 1.7 cents, or 0.67%, to trade at $ 2,479 per pound. Copper contract for the month of March the lowest price in five years at $ 2.419 a pound on Monday reached.
Red metal fell by 11.5% so far in January, as concerns about the global economic outlook and its impact on future demand forecasts, which reduced the appeal of commodities. Gold investing news