{"id":27415,"date":"2011-09-22T10:11:48","date_gmt":"2011-09-22T10:11:48","guid":{"rendered":"https:\/\/armbanks.am\/2011\/09\/22\/233774\/"},"modified":"2024-12-15T12:53:00","modified_gmt":"2024-12-15T12:53:00","slug":"gold-prices-fall-as-dollars-rally-erodes-demand-for-the-metal-as-alternative-investment","status":"publish","type":"post","link":"https:\/\/armbanks.am\/en\/2011\/09\/22\/27415\/","title":{"rendered":"Gold prices fall as dollar\u2019s rally erodes demand for the metal as alternative investment"},"content":{"rendered":"<p><strong>YEREVAN, September 22. \/ ARKA \/. <\/strong>Gold prices fell as the dollar\u2019s rally eroded demand for the metal as an alternative investment after the Federal Reserve said it will increase holdings of longer-maturity Treasuries in a bid to bolster the U.S. economy, according to reports from stock exchanges.<\/p>\n<p>Gold for immediate delivery fell $18.40, or 1 percent, to $1,785.23 an ounce at 4:04 p.m. New York time after dropping as much as 1.3 percent. At 2:20 p.m., just before the Fed announcement, the metal traded at $1,805. The greenback rose as much 0.9 percent against a basket of major currencies, erasing earlier losses.<\/p>\n<p>The Fed plans to buy $400 billion of bonds with maturities of six to 30 years through June while selling an equal amount of debt maturing in three years or less. That \u201cshould put downward pressure on longer-term interest rates and help make broader financial conditions more accommodative,\u201d the Federal Open Market Committee said in a statement.<\/p>\n<p>\u201cWith the dollar rally, the flight to quality is not building in gold at this moment,\u201d Adam Klopfenstein, a senior market strategist at MF Global Holdings Inc. in Chicago, said in a telephone interview. \u201cEveryone wants to be in the dollar and Treasuries,\u201d after the Fed decision, he said.<\/p>\n<p>In electronic trading, gold futures for December delivery fell as much as $28.10, or 1.6 percent, versus yesterday\u2019s settlement on the Comex in New   York. Earlier, the contract settled down $1, or 0.1 percent, at $1,808.10.<\/p>\n<p>Futures have jumped 27 percent this year, reaching a record $1,923.70 on Sept. 6, on investor demand for a haven amid escalating debt woes in Europe and the U.S. -0-<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Gold prices fall as dollar\u2019s rally erodes demand for the metal as alternative investment.<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":"","tstyn_error":""},"categories":[12139,9216],"tags":[12617,12467],"class_list":{"0":"post-27415","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-economy-en","7":"category-news","8":"tag-gold","9":"tag-prices"},"acf":[],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/posts\/27415","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/comments?post=27415"}],"version-history":[{"count":0,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/posts\/27415\/revisions"}],"wp:attachment":[{"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/media?parent=27415"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/categories?post=27415"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/tags?post=27415"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}