Global demand for gold fell: in the investment, jewelery and industrial components. Backed by our September forecast prices of precious metals at the levels of 1245-1250 USD / tr.unts generally come true, but we must recognize that the credibility of the golden calf is crumbling.

The decline in global gold consumption (the first half of 2014) is estimated by experts at 16% to 963.8 tons of funny. Sales of gold jewelry in India and China fell by 24%. Thus gold price jumped back safely in October from $ 1206-1207 psychological supports acceptable to 1240 USD / tr.unts repeating Drive December of 2013. Causes: surplus stocks ETF in the growing demand for precious metals (21.1 billion dollars just in the consumer sector). Financial regulators have increased their purchases of gold reserves in 2014 by 28% to 117.8 tons.

We believe that in November 2014 the price of gold to play the position 1250 with good prospects for entering quotes September 1280 dollars per troy ounce.