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Gold closes down more than 1% with China and Fed on the radar

Gold interrupted its sequence of gains and closed down with investors concerned about the recovery of demand for the metal by China, following economic data from the Asian giant — and which tend to bring down commodity prices.

The monetary policy meeting in the United States also entered the radar. The Federal Open Market Committee (FOMC) of the Federal Reserve will release its decision on interest rates next Wednesday (29). The expectation is that the US Central Bank will keep interest rates in the range of 4.25% to 4.50%.

The most liquid gold contract, for February, ended trading down 1.46%, at US$$ 2,738.40 per troy ounce on Comex, the metals division of the New York Mercantile Exchange (Nymex).