Gold Price Decrease Over 1%

Gold prices finally come down from record highs amid uncertainty surrounding the U.S. economic stimulus delivery. The price of gold, silver and platinum prices fell along with other commodities.

The decline of gold and other commodity prices that occurred as the U.S. dollar index. The currency had already fallen too far because investors are too enthusiastic about the plan for continued disbursement of stimulus.

In trading Wednesday (27/10/2010), price of gold in the spot market reached its lowest point at U.S. $ 1318.74, and eventually closed down 1.1% to a level of U.S. $ 1323.65. Prices of gold futures for December delivery closed down U.S. $ 16 to as low as U.S. $ 1322.60.

All investor attention now being focused on the Federal Reserve meeting next week. They look forward to continued stimulus that will digelontorkan the Fed in order to stimulate the U.S. economy anymore.

"Expectations of a more gradual approach to 'quantitative easing' by the Fed has made a reversal (the price of gold)," said James Steel, chief commodities analyst at HSBC, as quoted by Reuters on Thursday (28/10/2010).

Enthusiasm was whole when the Wall Street Journal reports the Fed is likely to prevent pendepatan a 'shocking and awe'.

U.S. Dollar rose to its highest point recorded over two weeks of the euro and the yen as sentiment. As is known, the weakening U.S. dollar had previously been made in commodity prices including gold hit a record highs. Gold prices hit a record highs recorded at U.S. $ 1,387 per ounce in early October, following the expectation the Fed will continue the stimulus phase II.