Gold’s modest rally was short-lived as prices fell back near 5-year lows Thursday morning.
A slightly dovish Federal Reserve statement failed to give gold any momentum.
Gold for August dropped 8 dollars to $1085 an ounce.
Yesterday’s Fed statement gave little indication as to whether the central bank will raise rates in September.
Most traders are still betting on a rate hike at some point in 2015.
The material has been provided by InstaForex Company – www.instaforex.com