Gold fell for a third session on Tuesday this low level, approaching five and a half years, with the selling pressure was supported by expectations that The Fed will begin to raise flowers tribes this year. Investors looking at yesterday's data on Monday showing that u.s. manufacturing activity fell below expectations. However, the expectations are still NFP report is based on the U.S. will be announced on Friday.
- Gold
The price of spot gold slipped 0.3 percent to $1, to 082.8 an ounce early in the day, near low levels last month at $ 1,077, the weakest level since February 2010. While gold for December delivery in New York shrank 0.6 percent to $1, the 082.50 figure per ounce. A night earlier, gold futures decline amid a slight rise of the dollar.
Amid the growing labor market, economists are still mengekspektasikan The Fed to raise interest rates this year, possibly when the FOMC meetings in September. This potentially suppress the rise in gold.
Dragged Down Commodities
In addition, the prices of global commodities benchmark sank to the level of a 12-year low on Monday yesterday, where copper and sugar prices tumbled to a low level multi annual and oil slump below $ 50 for the first time in six months, amid concerns against the fascist Chinese economy. And gold, participated in the "ship" the commodities so that the plundering of submerged.
As expressed by analysts About the Forex, gold Ferdi Jo, gold back bearish on the range $ 1084, trim about 1% gain after yesterday's tepid rebound pretty impress. The fall of gold along with commodities, erasing nearly all the advantages of a commodity for a decade.
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