Gold price fell more than 1% as sentiment improves
Gold is much cheaper today, which was associated with decreased risk appetite and expectations of UK remaining in the EU. The pressure on the precious metal also led to a strengthening of the US dollar.
In the last few weeks the price of gold has increased significantly amid concerns about the possible withdrawal of Britain from the EU. However, two public opinion poll published on Monday showed that the majority of Britons support the "remain" camp" although the third survey revealed that the number of Brexit voters have the majority.
The trading dynamics have also been influenced by the Federal Reserve Chairman Yellen's statements. "The FOMC will raise rates gradually, paying attention to both the current dynamics of the GDP, employment and consumer prices, and the prospects of macroeconomic indicators", - said Yellen. According to Yellen, the world economy is still vulnerable and a potential exit of Great Britain from the EU can have serious economic consequences not only for the country itself but also for the world, including the United States. "Brexit may have a significant adverse economic consequences," - she said.
Gold reserves, located in the reserves of the largest ETF fund SPDR GOLD Trust, rose on Monday by 0.10 percent, to 908.77 tonnes (the highest rate since September 2013).
The cost of the August gold futures on the COMEX fell to $ 1273.3 per ounce.