Gold prices wavered on September 11, moving back and forth as global markets responded to the latest updates on the situation that exists in Syria.
Investors who are considering harnessing gold backed iras might benefit from knowing this information. December contracts for the metal were trading down 0.1 percent at $1,362.80 per ounce earlier in the day, according to The Wall Street Journal.
The situation in the Western Asian nation most recently became calmer after President Barack Obama said late on September 10 that he would make an effort to resolve the turmoil that has been afflicting the Western Asian nation using peaceful methods, the media outlet reported.
Obama was referring to a proposal that was floated earlier in the day by the Russian government, which suggested that Syria surrender its weapons in exchange for eliminating the threat of it being the target of a U.S. military attack.
Reuters reported that amid these easing concerns about the situation in Syria, global market participants once again renewed their focus on the future of quantitative easing. The upcoming Fed policy meeting that begins on September 17 will also serve to draw the attention of investors away from the turmoil in the Western Asian nation, analysts told the news source.