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Most of today's gold futures traded at a significant reduction in the background of the fact that the strengthening of the dollar resulted in a decline in demand for the precious metal as an alternative investment.
Note that the dollar rose 0.5% against a basket of currencies against the meeting of European finance ministers in Luxembourg, as well as speculation that Spain is trying to avoid the need for loans due to the growth of sovereign debt .. We note that on Friday, gold fell from its highest level in 11 months, which was caused by the published data, which showed that the U.S. unemployment rate fell to its lowest level since January 2009, releasing the pressure on the Fed.
Precious metals prices rose by 5.1% last month on speculation the incentive program in the U.S., Europe and Japan will increase the appeal of the metal as an alternative to currencies.
But despite this decline, the last couple of hours the price of gold rose sharply, and gradually approaching the opening day.
October futures price of gold on the COMEX is now 1775.1 dollars per ounce.
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