Gold prices fell due to fears over rising U.S. interest rates
Gold prices fell due to fears over rising U.S. interest rates
Tuesday, July 8th, 2014 11:06
Baghdad / follow Baghdadi News .. the price of gold fell, on Tuesday, with investors continue to worry of the possibility of raising U.S. interest rates sooner than expected, while the price of palladium approached the highest level in 13 years, supported by fears of supply shortages.
The report provoked strong U.S. jobs last week, speculation that the Federal Reserve (the U.S. central bank) may raise interest rates soon in the wake of a strong economic recovery.
And raising interest rates will encourage investors to pull their money out of assets that do not generate interest, such as gold.
The price of spot gold around 0.1 percent to 1319 dollars per ounce by the time 0637 GMT, after he had finished the previous session stable.
The platinum group metals continued to benefit from concerns over supplies in South Africa, which saw the strike lasted five months in a number of major manufacturers.
The strike ended late last month, but then began strikes smaller, which stoked fears the supply.
Palladium was trading near its highest price in 13 years struck on Monday at 868.50 dollars an ounce. And had a metal that enters in the automotive industry with support from the data published last week showing rising U.S. auto sales to their highest level in eight years in June.
And palladium fell 0.18 percent to 864.25 dollars an ounce, while platinum rose 0.07 percent to 1492 dollars per ounce.
And silver dropped 0.19 percent to $ 21 an ounce. Finished / 21
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