The price of gold was stagnant this morning, dropping $6 to $1,466.10 an ounce. Many analysts believe this is solely due to a two-day policy-making committee that is set to end this afternoon. Once data on the meeting has been released, analysts will be able to tell if and how it affects gold.
Analysts hope that this meeting will give an idea on when the federal government will implement a quantitative easing program. Analysts and investors alike are cautious at this time as they are unsure if these meetings with adversely effect the price of gold.
European Central Bank is to follow suit on Thursday with their own monthly meeting. They are expected to cut interest rates, thus helping the economy.
Copyright Gold Alert All rights reserved.