Gold drops to lowest level in eight months amid signs of an impending US interest rate hike

Gold drops to lowest level in eight months amid signs of an impending US interest rate hike

Gold prices fell on Thursday to its lowest level in eight months after the confirmed Janet Yellen president of the Federal Reserve (the US central bank) that US interest rates probably will rise this year, which helped the dollar index to climb to the highest level in seven weeks.

Yellin said that the US central bank’s past on its way to raising interest rates this year amid expectations of a steady improvement in the US labor markets and with the exclusion of out economy derailed because of raging outside the United States unrest.

His comments came softens in line with the latest comments and with her the latest data of the Federal Open Market Committee, which will hold its next meeting on 28 and 29 July.

The price of gold fell 0.4 percent in spot transactions to end the trading session in the US market at $ 1144.65 an ounce (an ounce) after he fell to the lowest level since November at $ 1142.10 in the wake of unrelenting statement on Wednesday.

It fell US gold futures to a record 0.3 percent at 1143.90 dollars an ounce settlement.

Among other precious metals platinum record the lowest level since February 2009 with Veraar falling to 1000.25 dollars an ounce, affected by expectations of an abundance of supply. She said Anglo American Platinum -ohd largest Almentgen- The output jumped 60 percent in the second quarter of the year.

Palladium fell to its lowest level since November at $ 622.75 an ounce.

Silver fell 0.7 percent to 14.97 dollars an ounce.

Leave a Reply

Your email address will not be published. Required fields are marked *