Gold Price Decline Action Wait From Janet Yellen

Equity World - Gold prices fell in late trading on Thursday morning (19/01) of the increase tertitnggi eight weeks earlier because of rising consumer prices to 2.5-year highs mengangkatkan US dollar and US Treasury yields.

But the movement was muted as the market awaited a speech by Federal Reserve Chairman Janet Yellen, who will be closely watched for clues on US monetary policy.

Spot gold prices fell 0.45 percent at $ 1,211.00 per ounce, while gold futures for February delivery was 0.2 percent lower at $ 1,210.5

Gold reached its highest since mid-November, on Tuesday, after falling in the wake of the victory in the US elections Donald Trump as his promise to cut taxes and increase spending sparked a rally in Treasury yields and buying cyclical assets.

The Labor Department said on Wednesday its Consumer Price Index rose 0.3 percent last month and 2.1 percent in the 12 months to December, the biggest increase year-on-year since June 2014.

However, Trump Policy uncertainty ahead of the inauguration on Friday to maintain the support of this precious metal.

Reports protectionist policies and a lack of detail has led some investors to choose gold, often considered as a hedge against the uncertainty in the broader market, due to post-election shift.

Silver rose 0.5 percent to $ 17.24 per ounce, while platinum was 1.17 percent lower at $ 971.60 per ounce and palladium fell 0.04 percent at $ 747.20.

Analyst Vibiz Research Center estimates that the price of gold for the next potential trading weak with the strengthening US dollar. The gold price is expected to move in the range of $ 1,209- $ 1.207 Support, but if the price rises will move in the range of $ 1,213- $ 1.215 Resistance.
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