The price of gold Down 2% Fed officials of Netanyahu's Comments Eroded

The price of gold Down 2% Fed officials of Netanyahu's Comments Eroded

The gold price is down about two percent on Wednesday, one of the deepest decline from a year ago, as the u.s. dollar strengthened following Netanyahu's commentsby Federal Reserve officials in the way of U.S. interest rates.

Comments from some of the U.S. Federal Reserve officials favor an increase in the u.s. dollar, touching a one-week highs, up 0.5 percent against a basket of currencies.

Philadelphia Fed President Patrick Harker said the central bank should consider another hike at the beginning of next month if the us economy continues to improve, while Chicago Fed President Charles Evans also said he expects two rate increases this year.

St. Louis Fed President James Bullard said on Wednesday that stable inflation expectations as a "sign of hope"

Gold fell to the lowest position in one month, reversing gains made the previous day when investors seeking "safe haven" assets after a deadly bomb attack in Brussels.

The price of spot gold down 2.25 percent traded at around $ 1, 219.97 an ounce after falling earlier as much as 2.6 percent, depressed by investors who doubled the advantage ahead of the Easter holiday, which begins on Friday.

While U.S. gold futures prices were down 2 percent at $ 1224 per ounce. Last traded down 2.25 percent at $ 1, 200.

See: Gold Prices Rally After Attack Brussels

Uncertainty in the global market including events such as ' Brexit ' or the United Kingdom's decision to stay or leave the European Union, could trigger a purchase safehaven for gold during the next few weeks.

Citi analysts said in a note that the rising confidence of investors and policy makers in the global economy headed into the second half of this year the possibility of pressing demand for gold as a safe haven.

Gold has rallied 16 percent this year, regaining its role as a haven for risk-averse investors, in the face of the collapse of equity markets and fears of global economic slowdown.

The price of Silver Futures dropped 4 percent to $ 15.25 per ounce, platinum futures prices down to the lowest level of 3.9 percent one week at $ 958.30 an ounce and Palladium futures also slumped 3.86% to near one-week low of $ 582.25 per ounce.

The night will be released economic data on U.S. Durable Goods Orders indicated declining results from sebelumnta. If these results are unrealized can depress the u.s. dollar.

www.yessnews.com estimates the price of gold on the next trade potentially weakened with the potential strengthening of the u.s. dollar. But to trade a night later, if the u.s. dollar weakens, unrealized will make the gold price rebound. The price of gold is expected to break through the range of Support of $ 1, 218.00-$ 1, 216.00, and if prices rebound will penetrate the range Resistance 222.00-$ 1, $ 1, 224.00.