Gold near the lowest price in 3 months due to high dollar
Gold near the lowest price in 3 months due to high dollar
11/09/2014 12:07
Agencies – Gold approached its lowest level in three months on Thursday, influenced by fears of an early lifting of American interest rates and the high dollar and what appears to be easing tensions over Ukraine.
With the approach of the dollar index peaked at 14 months in today’s transactions due to growing speculation that baptizes Federal Reserve (the Fed) to raise interest rates soon, investors are watching the gold any increase in the present market demand in Asia to support the price.
The troubles continue to hold gold to the Reserve Board meeting scheduled next week, which may secreted indicators on the date of commencement of a rate hike. And will get a rate hike from the demand for assets is generating interest such as gold.
By the time 0628 GMT, the spot price of gold was up 0.1 percent to 1247.10 dollars per ounce after it came down 0.6 percent on Wednesday when he scored the lowest price in three months to $ 1243.56.
HSBC analysts wrote in a note, “While gold may face new pressure in the current climate of macroeconomic improvement in the present market demand may limit the possibility of incurring new losses.
“Present market demand seems anemic despite a drop in the price of gold this month.”
Silver fell 0.2 percent to 18.86 dollars an ounce.
Platinum was down 0.1 percent to record in 1377 dollars, while palladium rose 0.2 percent to 847.75 dollars an ounce.
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