Gold Futures Decline to 18-Week Low as Investors Sell ETP Assets

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Gold Futures Decline to 18-Week Low as Investors Sell ETP Assets

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PT. Equityworld Futures – Gold futures slumped to an 18-week low as investors exited funds backed by the metal before a Federal Reserve policy meeting.

Holdings in gold exchange-traded products fell for a 14th straight day Monday, the longest run in more than a year. Almost 90 percent of economists surveyed by Bloomberg predict Fed officials will drop a pledge to be “patient” on raising interest rates from a policy statement due at the conclusion of their gathering Wednesday.

The precious metal has fallen 3 percent in 2015 on concern rates will rise, sending investors to assets with better yield prospects such as bonds and equities. Money managers have cut their gold net-long wagers for six straight weeks, and ETP assets are at the lowest since Jan. 21.

Gold futures for April delivery fell 0.4 percent to settle at $1,148.20 an ounce at 1:43 p.m. on the Comex in New York. The price touched $1,141.60, the lowest since Nov. 7, when the metal reached a four-year low of $1,130.40.

Sumber : ewfpro.com

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