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Gold prices continued to fall today due to the fact that the rise of the dollar against global currencies reduces the demand for the metal as an investment alternative, due primarily to reduced demand in the euro due to debt problems in Europe.
Dollar against the basket of six currencies of countries - major trade partners of the United States rose to 78.07 points, while the euro fell to 1.3428 dollars per euro.
Yields on ten-year Italy’s bonds at auction today fell by 29 basis points - to 6.79%, the papers in Spain - 9 points - to 6.25%. According to the sources to Bloomberg, most of these papers concern the European countries became the ECB.
Portugal posted a three-month treasury bills at 1.123 billion euros, with the yield securities fell slightly compared with the previous auction and was 4.895% per annum.
Bank of England today called on senior European leaders for effective steps to bring the region out of crisis, as well as special measures in Europe will support economic growth in the Kingdom.
December futures for gold in the course of trading on Comex in New York fell to 1753.9 dollars per troy ounce.
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