Gold loses its luster record a loss for the seventh consecutive week
Gold loses its luster record a loss for the seventh consecutive week
7/8/2015 12:51
{International: Euphrates News} has gold aspect of its luster in the global markets, and continued on Friday bleeding continued losses for the seventh consecutive week, just shy of recording record losses for the longest losing streak in 16 years, while the settled near its lowest level in five and a half years, keeping watch US data may determine the timing of raising interest rates in the United States.
An analysis shows that in the case came out strong US jobs data, it will enhance the previous speculation that provides the Fed {Fed} to raise interest rates next month, which will lead the gold, probably, to new levels of impairment.
The price of gold in 0.3 per cent of online transactions to $ 1092.10 an ounce} {ounce by 0647 GMT. It is trading the yellow metal without the support level of $ 1100 an ounce, since coming off the losing streak began on July 20 that revealed him to $ 1077 in 24 of the same month, its lowest level since February 2010.
The record precious metal slight decline since the beginning week, and if bleeding continued losses until the end of the day, it will be the seventh week in a row that incurred the losses, similar to what happened to the yellow metal in May / May and June 1999.
The price of gold futures US contracts in December / December delivery 0.1 per cent to $ 1091.60 an ounce.
Among other precious metals silver rose by one per cent to $ 14.72 an ounce.
Platinum and palladium remained near their lowest levels in several years. Platinum little to settle at $ 951 an ounce change, and tends to decline for the fifth consecutive week was little, while palladium rose 0.6 percent to $ 598.50 an ounce, but it tends to decline for the week Althani.anthy
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