The Phaserl


Daily Nugget – Deutsche Bank resigns gold fix seat

by Jan Skoyles,

The gold price is holding steady below $1,300 this morning ahead of the FOMC statement release. There is rife speculation amongst analysts that the FOMC will decide to cut the Federal Reserve’s monthly asset purchases by $10 billion to $45 billion.

Gold is still up for the year, by 7.8%, mainly thanks to sustained buying in Asia and renewed safe-having demand due to ongoing tensions between Russia, Ukraine and the West.

For a sixth consecutive day, assets in the SPDR Gold Trust remain unchanged at a 12-week low of 792.14 metric tons.

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