Still in Bearish Signal #GOLD

SINGAPORE . Gold futures world this morning ( 27/2 ) still gives a bearish signal . Citing data from Bloomberg , at 8:52 pm Singapore time , the contract price of gold for quick delivery traded at U.S. $ 1,328.7 per troy ounce . Yesterday , the same contract price closed at U.S. $ 1330.57 per troy ounce .
The decline in the price of gold occurred after the U.S. government released data on home sales unexpectedly rose to the highest position in the last five years .
Earlier, gold prices had climbed as speculation that there will be a slowdown in the U.S. economy . In addition , economic instability in emerging markets will boost demand for gold as a safe haven .
" The price of gold fell on investor profit taking after U.S. home sales rose to the highest level in five years . Meanwhile , the pace of decline in the gold market restrained by political tensions in Eastern Europe , " said James Steel , analyst at HSBC Securities Inc. .
Meanwhile , gold futures for April delivery rose 0.2 % to U.S. $ 1345.60 per troy ounce . This is the highest price level for the most active gold contract traded since October 30.

www.bloomberg.com