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Gold prices fell today , reaching at this four-month low , and fixing his sixth consecutive session slump that was associated with the release of upbeat U.S. data .
Ministry of Commerce announced that new orders for manufactured goods increased by 0.7 percent. March orders were revised to increase to 1.5 percent instead of the previously announced growth of 0.9 percent. Economists forecast that industrial new orders rise by 0.6 percent. Production increases after some delay during a very cold winter. It is likely to continue to expand, while the report showed that orders for factories of the country are at the highest level in five months in May. Orders excluding the volatile transportation category in May rose 0.5 percent, while orders primary metals , electrical equipment, appliances and components , and capital goods rose . The report also showed that orders for durable goods , which will last the life of three years or more, rose 0.6 percent after a 0.8 percent gain last month.
Precious metal is also reduced , pending a decision on the monetary policy of the ECB and on rising stock markets.
"If this week's releases will coincide with the predictions , we can again see a drop in gold prices ," - says Kenny Fisher , an analyst MarketPulse. " At the same time gold is sensitive to geopolitical stability , so that if the tension in Ukraine will increase, it could boost demand for precious metals ."
The price of gold 99.99 fine on the Shanghai Gold Exchange fell on Tuesday , as the global benchmark for ">" Over the last week has increased optimism among investors about the prospects for the world economy and a peaceful solution to the Ukrainian crisis , with an increased inflow of funds used in the industry and nickel silver and the outflow of gold " - the report says ETF Securities. Outflow of gold- exchange products company last week was $ 52 million , which was the highest figure since March.
The cost of the June gold futures on the COMEX today dropped to $ 1243.9 per ounce.
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