FX & CFD trading involves significant risk
Gold prices rose after Friday's decline, but growth is constrained by a high dollar.
The spot price fell by 10 percent after Federal Reserve Chairman Ben Bernanke said in June that the pace of U.S. economic growth allows the central bank to reduce the volume of buying up bonds this year. Reducing incentives will increase interest rates and the dollar, making gold less attractive to investors outside the United States.
In the second quarter, gold fell by 23 percent, which was a record quarterly decline, and on June 28 the price dropped to a low of nearly three years, $ 1.180,70 an ounce.
The number of employees in the U.S. economy, excluding the agriculture sector in June increased by 195,000, while analysts had expected growth of 165,000, and the unemployment rate was 7.6 percent, the forecast of 7.5 percent. These data fueled fears that the Fed will soon begin to reduce incentives.
On Monday, the dollar rose to a three-year high against a basket of world currencies. Stocks of the world's largest exchange-traded fund backed by gold (ETF) SPDR Gold Trust on Friday fell 0.3 percent to 30.92 million ounces - the lowest level since February 2009.
The cost of the August gold futures on COMEX today rose to a high of $ 1237.40 an ounce.
|remaining time till the new event being published|
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.