Gold prices
increasingly eroded
The price of gold futures on the COMEX division of the New York Mercantile Exchange retreated responded to a number of economic data United States (US) were better than expected. This reinforces the market speculation that the US central bank (the Fed) will draw its monetary stimulus program.
As quoted by Xinhua on Friday (09/06/2013), the most active gold contract for December delivery fell $ 17 or 1.22% to US $ 1,373 per ounce.
Market analysts said the US economic data makes the market stronger restless again, and the strengthening of the US dollar reacts to the price of gold.
Automatic Data Processing Inc. reported private-sector employers to add 176 thousand jobs during August, slightly lower than expectations.
Meanwhile, the US Labor Department data showed the number of Americans filing claims for unemployment benefits fell 9,000 to 323 thousand. While the US productivity second quarter of 2013 rose 2.3%.
US Non-Manufacturing Index registered 58.6 in August, up compared to 56 in July, according to the Institute for Supply Management (ISM). A reading above 50 indicates expansion in the sector.
US economic data brightened membuah increasingly mighty US dollar that affect the price of commodities such as gold are traded in that currency. Strengthening US dollar to feed for some investors to abandon the gold. (Ndw)
The price of gold futures on the COMEX division of the New York Mercantile Exchange retreated responded to a number of economic data United States (US) were better than expected. This reinforces the market speculation that the US central bank (the Fed) will draw its monetary stimulus program.
As quoted by Xinhua on Friday (09/06/2013), the most active gold contract for December delivery fell $ 17 or 1.22% to US $ 1,373 per ounce.
Market analysts said the US economic data makes the market stronger restless again, and the strengthening of the US dollar reacts to the price of gold.
Automatic Data Processing Inc. reported private-sector employers to add 176 thousand jobs during August, slightly lower than expectations.
Meanwhile, the US Labor Department data showed the number of Americans filing claims for unemployment benefits fell 9,000 to 323 thousand. While the US productivity second quarter of 2013 rose 2.3%.
US Non-Manufacturing Index registered 58.6 in August, up compared to 56 in July, according to the Institute for Supply Management (ISM). A reading above 50 indicates expansion in the sector.
US economic data brightened membuah increasingly mighty US dollar that affect the price of commodities such as gold are traded in that currency. Strengthening US dollar to feed for some investors to abandon the gold. (Ndw)
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