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Gold prices continued to decline after the Japanese authorities decided to make anintervention in the foreign exchange market to limit yen appreciation, according to data exchanges. News from Japan helped strengthen the dollar, to which the price of gold usually moves in different directions.
At the same time, support for gold prices has statistics eurozone, which turned out worse than expected, and the lack of details of the plan by EU leaders at the conclusion of the region's debt crisis. The unemployment rate in the 17 eurozone countries in September 2011 increased compared with August, up 0.2 percentage points to 10.2%, while analysts expected a saving rate of 10%. Annual inflation in the 17 euro zone countries, according to preliminary data, in October remained at the level of last month at 3%, although the expected slowdown in consumer prices up 2.9%.
On the Comex Exchange in New York, gold for December delivery fell to $1705.50 per troy ounce.
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