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Gold lost previously earned a position at the same time returning to opening levels. Support prices have expectations of the meeting of eurozone finance ministers, who will discuss the proposed economic reforms Greece.
"It seems that the markets are still unable to ignore the situation in Greece," - said Commerzbank analyst Carsten Commodities Fritsch. The expert suggested that the financial condition of the country is more dangerous than previously thought, which means that Greece may require financial assistance earlier than expected.
The rise in prices is constrained by expectations of higher interest rates in the United States, which intensified after the release of a positive report on the labor market. Recall, the report showed that the number of people employed in non-agricultural sectors increased by 295 thousand. In February against expectations at the level of 241 thousand. Meanwhile, the figures for January and December were revised downward - as a whole by 18 thousand .. Unemployment rate, the time down to 5.5% from 5.7% in January. Experts predicted that the rate will drop to 5.6%.
Positive data underlined expectations that the Fed will raise interest rates in the middle of this year. It should be emphasized, after the release of the report, President of the Federal Reserve Bank of Richmond Jeffrey Lacker said he believes the June meeting of the central bank the best time to raise interest rates. Lacker also said that as the economy corresponds to his expectations, he seems to June "prime candidate" for the onset of action and increase short-term interest rates from the current near-zero levels.
Small effect has also statistics on China. It is learned that the trade surplus in January-February was $ 60.60 billion, compared with expectations of $ 7.8 billion and $ 60.0 billion since January. In annual terms, exports grew last month at 48.3%, while imports decreased by 20.5%. Reduction in imports points to the continued weakness in the economy, causing speculation that Beijing policymakers need to take additional measures to stimulate economic growth.
Meanwhile, it became known that the gold reserves in the SPDR Gold Trust fell on Friday to its lowest level in more than a month.
April futures price of gold on the COMEX today rose to 1166.80 dollars per ounce.
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