ZOID RESEARCH 28- MAY-2014 : GOLD

Spot gold prices declined by more than 2 percent in yesterday’s trading session as S&P equities index traded at record high levels in the US. Economic optimism about the US economy also triggered heavy bout of selling.

Expectations of rate cuts by the European Central Bank stoked investor appetite for equities. Also, orders for U.S.-made durable goods unexpectedly rose in April and consumer confidence perked up in May, supporting views of a rebound in economic growth.

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