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Today the price of gold is reduced by a stronger dollar after data on the U.S. trade balance .
Recent data from the U.S. Department of Commerce showed that exports continued to grow in November , while providing more evidence that high rates of growth abroad can improve performance for the U.S. economy .
According to the report , the seasonally adjusted U.S. exports increased in November by 0.9 % compared with the previous month , reaching at this level of $ 194.860 billion , which was the highest in history. Imports, meanwhile, fell by 1.4% - to $ 229.110 billion
Given these changes , the trade deficit narrowed in November to $ 34.250 billion , compared with a revised downward deficit the previous month at $ 39.330 billion (originally reported deficit of $ 40.6 billion). We add that the latter figure was the lowest since October 2009. Many experts predicted a decline in the trade deficit to only $ 40.2 billion from $ 40.6 billion
The global economy showed signs of stabilizing in recent months , and provided potential momentum heading for the U.S. in the new year . Weakness in Europe, Japan and some emerging markets put pressure on U.S. exporters for most of the recovery.
In addition, data showed that U.S. exports increased by 5.2 % compared with a year earlier , led by sales growth in China , Mexico and Canada . U.S. exports to China from January to November rose by 8.7% compared with the same period a year earlier . Exports to Canada , which is the largest trading partner for the United States increased by 2.5 % over the same period .
Cost February gold futures on the COMEX today dropped to $ 1224.20 per ounce.
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