Gold prices slightly below the level set in the five-week high due to the strengthening US dollar so cut demand for safe assets value. In addition, policy makers in the US was increasingly showing signs to start raising interest rates.
The price of gold bouillon for immediate delivery fell 0.2 percent and traded at $ 1,195.88 an ounce at 8:56 am Singapore time on the position of $ 1,198.28 yesterday when the price has dropped to 1.1 percent, according to Bloomberg price list. On 1 December, gold had dropped to $ 1,142.88, before rallying to $ 1,221.43, the highest level since October 30, along with the drop in oil prices.
In addition, gold futures for February delivery on the Comex in New York fell 0.2 percent to a record price of $ 1,196.80, this decline is the decline of gold for the second day.
Obeying Oil Prices
Known on this day oil prices traded below $ 70 a barrel today, fell into bear market that benefits the economy. It is agreed by the Vice President of the Fed, Stanley Fischer, where in a speech in New York last night Fischer admitted that the decline in oil prices favorable to the US economy, especially to boost interest in public spending.
According to the analysis of Mark To, at Wing Fung Financial Group, expectations that the US economic recovery in the positive progress continues. According to, this is going to be a wedge for the increase in the price of gold and oil prices. Investors' focus will be on the jug US NFP and ECB policy meeting.
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