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    21.03.2016 16:22 Gold has fallen in price during today's trading

    Gold prices declined moderately today, recording the third-session drop in a row, helped by a stronger dollar and the statements of representatives of the Federal Reserve.
     
    "We had quite a lot of news in the last week, while this week's economic calendar will be less intense. Against this background, the trading volume may be lower, and therefore prices will have little momentum. In addition, the US dollar strengthened slightly. But we believe that the recent decline in prices -. it's just a short-term phenomenon may have some investors decided to take profits reasons to invest in gold remain unchanged, mainly inflation expectations and inflationary pressures, "-. said Capital Economics analyst Simon Gambarini.
     
    Today the head of the Federal Reserve Bank of San Francisco John Williams said that the central bank could still raise rates in April and June, when economic data will provide the foundation for a political solution. Meanwhile, the president of the Richmond Fed Jeffrey Lacker said that inflation in the US is likely to accelerate in the coming years and will move to the target of 2% after the oil price reached the lower limit.
     
    In focus were also data on the US housing market. The National Association of Realtors reported that after rising to its highest annual level in six months in January, housing sales in the secondary market dropped in February against the background of a stable low level of supply and stable prices in some parts of the country. home sales in the secondary market decreased by 7.1 percent to a seasonally adjusted annual rate reached 5.08 million compared to 5.47 million in January. Despite the fact that the last month was a significant reduction in sales for another 2.2 percent higher than a year ago. Lawrence Yun, the NAR chief economist, said that sales in the secondary market in February, disappointing and run counter to a strong start of the year. The average house price in the secondary market for all types of housing in February was $ 210,800, up 4.4 per cent per annum above. Stocks of housing in the end of February increased by 3.3 percent to 1.88 million homes.
     
    Support for the precious metal has the approach of the Easter holidays in Europe at the end of the week, as well as expectations that the ultra-low rates will continue. Some economists fear that the ultra-low interest rates around the world will eventually have a negative impact on inflation rates. Gold does not generate revenue, and it is difficult to compete with the profitable assets, such as Treasury bonds when interest rates are near zero. If in the future rates will remain unchanged, then gold will go up amid falling US currency. This year, gold rose in price by almost 16%, as investors seek refuge in conditions of instability in the financial markets and on concerns about the global economic downturn.
     
    In addition, it became known that the gold reserves in the largest gold ETF-fund SPDR Gold Trust rose on Friday to 11.9 tonnes, bringing the total inflow for the year increased to 176.6 tonnes compared to 40.8 tonnes for a same period last year.
     
     
    April futures price of gold on COMEX today fell to $ 1246.90 per ounce.
     


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