FX & CFD trading involves significant risk
Gold prices are reduced by the unfavorable U.S. macroeconomic statistics. According to published data, the index of economic conditions in the ISM non-manufacturing sector in January, according to the average forecast dropped from 55.7 to 55.2, in the meantime, the business activity index in the ISM non-manufacturing sector by the end of last month, down from 60.8 to 56, 4, although expected to be much less significant decline.
Earlier, the price of gold rose after strong Chinese and European data.
In China, it was noted the acceleration of growth of services in January, and the index PMI for services eurozone has been revised upwards. The PMI service sector in Germany in January showed the strongest increase since August 2009, and the reduction of Spain's service sector slowed to its lowest rate since June 2011.
Also supported the growth of gold output more positive than expected PMI index for the services sector the UK, which has suddenly become a point to increased activity.
February futures price of gold on COMEX today rose to 1683.40 dollars an ounce, and then dropped to 1666.50 dollars per ounce.
All posted material is a marketing communication solely for informational purposes and reliance on this may lead to loss. Past performance is not a reliable indicator of future results. Please read our full disclaimer.