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27.05.2014 15:20

Gold fell

The price of gold has fallen sharply against the dollar strengthening after strong data on orders for durable goods .

Orders for durable goods rose markedly in the last month , helped by a surge in military spending and economic recovery after a harsh winter .

Ministry of Commerce announced that the seasonally adjusted volume of orders for April rose by 0.8 %, compared with an increase of 2.9 % in March. Economists had expected the value of this indicator decreased by 0.4%.

Experts note that orders for durable goods may signal about future production activities , as factories are ramping up production to meet demand , or reduce it , when orders are falling.

Most economists predict that the U.S. economy recovered during the spring of this year after a weak first quarter. Earlier this month, the Fed chief Janet Yellen said that the harsh winter behind us, and many recent indicators suggest that the recovery of costs and production is on the way , according to this , we can expect sustained growth in the current quarter .

Net import volume of China from Hong Kong gold in April 2014 amounted to 65.4 tons versus 80.6 tons in March and 75.9 tons in April last year, according to official information of Hong Kong authorities.

Gold imports to China last month fell by background cooling investment demand for the precious metal in the country, which is its largest consumer in the world.

Exports from China to Hong Kong declined to 15.4 tons from 25.3 tons a month earlier.

As analysts , reducing demand for gold in China, in India last year outstripped consumption of this precious metal , may have an impact on world prices for him, since the beginning of the year increased by 6.8%.

" Consumer demand for bars and coins in China falls as prices rise and investment in it lose their appeal ," - said analyst Shanghai Leading Investment Management Duan Shihui .

Last year , when gold fell to a record in 30 years 28% , the demand for gold jewelry in China jumped 32%.

The cost of the June gold futures on the COMEX today dropped to $ 1266.00 per ounce.

27.05.2014 15:40

Oil fell

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