July 2014

Gold Trades Lower as US Economy Expands

Gold prices was a little changed  on Thursday, trading in the red territory during the European morning trading hours as investors digests signs that the US Economy is strengthening following its strong gross domestic product data.

Meanwhile, the Federal Reserve released its latest monetary policy statement, which showed that the Federal Open Market Committee reduced its bond purchases by an additional $10 billion as expected. The statement also showed that Fed policy members said the weakness in the labour market would persuade them to increase interest rates sooner than later. Read more