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MTECHTIPS:-Gold drops as Ukraine concerns ebb, Fed in focus

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MTECHTIPS:-Gold drops as Ukraine concerns ebb, Fed in focus Gold prices fell to a four-day low on Tuesday, as concerns over the situation in Ukraine receded and as investors shifted their focus to the Federal Reserve’s upcoming policy meeting. Gold last traded at $1,359.00 an ounce during European morning hours, down 1.01%, or $13.90. Prices lost 0.44%, or $6.10 an ounce, on Monday to settle at $1,372.90.On the Comex division of the New York Mercantile Exchange, gold futures for April delivery fell to a session low of $1,358.10 a troy ounce, the weakest since March 12 Futures were likely to find support at $1,345.60 a troy ounce, the low from March 12 and resistance at $1,392.60, the high from March 17. Meanwhile, silver for May delivery slumped 1.2%, or 25.5 cents, to trade at $21.02 a troy ounce. Silver ended Monday’s session down 0.64%, or 13.8 cents, to settle at $21.27 an ounce. Demand for safe haven assets weakened as an absence of violence and mild sanctions from the West in response to Sunday's referendum in Crimea fueled appetite for risk-sensitive assets. Russian President Vladimir Putin was to give a speech later Tuesday, after Crimea voted overwhelmingly in favor of becoming part of Russia in a referendum deemed illegal by the European Union and the U.S. Uncertainty over the situation in Ukraine has weighed on global sentiment over the past few weeks and boosted demand for the precious metal. Meanwhile, investors began to turn their attention to the outcome of the Fed’s policy meeting on Wednesday amid expectations for a reduction in its bond buying program to $55 billion from the current $65 billion. Market players looked ahead to key U.S. economic data later in the day for further indications on the strength of the economy and the future course of monetary policy. WWW.MTECHTIPS.COM 07489294118-119

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									     Gold drops as Ukraine
   concerns ebb, Fed in focus




Gold prices fell to a four-day low on Tuesday, as
 concerns over the situation in Ukraine receded
   and as investors shifted their focus to the
  Federal Reserve’s upcoming policy meeting.
  Gold last traded at $1,359.00 an ounce during
European morning hours, down 1.01%, or $13.90.
Prices lost 0.44%, or $6.10 an ounce, on Monday
  to settle at $1,372.90.On the Comex division of
the New York Mercantile Exchange, gold futures
      for April delivery fell to a session low of
$1,358.10 a troy ounce, the weakest since March
      12 Futures were likely to find support at
  $1,345.60 a troy ounce, the low from March 12
and resistance at $1,392.60, the high from March
 17. Meanwhile, silver for May delivery slumped
    1.2%, or 25.5 cents, to trade at $21.02 a troy
   ounce. Silver ended Monday’s session down
0.64%, or 13.8 cents, to settle at $21.27 an ounce.
 Demand for safe haven assets weakened as an
absence of violence and mild sanctions from the
   West in response to Sunday's referendum in
 Crimea fueled appetite for risk-sensitive assets.
 Russian President Vladimir Putin was to give a
     speech later Tuesday, after Crimea voted
   overwhelmingly in favor of becoming part of
   Russia in a referendum deemed illegal by the
  European Union and the U.S. Uncertainty over
  the situation in Ukraine has weighed on global
 sentiment over the past few weeks and boosted
    demand for the precious metal. Meanwhile,
   investors began to turn their attention to the
     outcome of the Fed’s policy meeting on
Wednesday amid expectations for a reduction in
its bond buying program to $55 billion from the
current $65 billion. Market players looked ahead
  to key U.S. economic data later in the day for
    further indications on the strength of the
   economy and the future course of monetary
                      policy.
           WWW.MTECHTIPS.COM
             07489294118-119

								
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