Gold near its lowest level since 2010

Gold near its lowest level since 2010

06/08/2015 11:24 GMT

Gold near its lowest level since 2010Agencies – Gold faced difficulty in moving away from its lowest level in five and a half years on Thursday after the release of upbeat US economic data boosted prospects for raising the Fed (the US central bank) interest rates in the next month.
And it indicates high activity in the US services sector to its highest level in about ten years to enhance the strong economic momentum motives raise US interest rates this year for the first time since 2006.

Investors are awaiting the release of the jobs report in the US non-farm payrolls on Friday where Economists forecast polled by Reuters high employment rate in July, the same pace of increase recorded in June, amounting to 223 thousand jobs.

Hui said Lee, an analyst at Phillip Futures said the release of strong US jobs report may lead to the descent of the price of gold to $ 1080 for the ounce.

The price of gold in the spot transactions 0.1 percent to $ 1086.20 an ounce by 0633 GMT. The price of the precious metal remained below $ 1100 since breached the support level after a strong drop this wave of late July, the price of the metal fell to $ 1077, its lowest price since February February 2010.

The price of gold settled in the US decades December delivery at $ 1085.70 an ounce.

Among other metals palladium rose 1.3 percent to $ 598.50 an ounce and platinum rose 0.3 percent to $ 950.24 for Almadnan remains near its lowest level for them in several years and which Bulgah earlier this week.

Silver rose 0.3 percent to $ 14.60 an ounce.