Gold loses $ 15 by the stronger US dollar

Gold prices rise amid support US Federal Reserve

Gold loses $ 15 by the stronger US dollar

Gold prices fell through instant transactions, on Tuesday, below the level of $ 1,200 for the first time in nine days, due to the rise of the dollar against major currencies amid mounting speculation that the Federal Reserve will raise interest rates in July or September 2015.

Gold fell in the spot trading by 12:30 (GMT), at $ 14.85 by about 1.23% to $ 1191.65 an ounce.

The dollar index against a basket of six major currencies, was 0.85% up to the level of 96.925, the highest level in a month.

Dollar and completed his rise amid the release of economic data, last week, rising core consumer prices, inflation, excluding food and energy, rose 0.3% in April from March, the largest monthly increase in more than two years.

She said, “unrelenting”, in her speech last week, the central bank on track to raise interest rates at some time during 2015.

He said, “Stanley Fischer,” deputy head of the Federal Reserve, in a speech to Israel, on Monday, the central bank is expected to follow to raise interest rates “gradually and relatively slow” path over the past 3-4 years coming to get borrowing costs to “normal levels” .

“The Barclays’ Bank, in a research memo Tuesday, the inverse relationship of gold began to regain their forces again Adak than the metal’s ability to achieve gains.

“The Barclays”: “It is likely that the demand for gold, slightly, in the third quarter of 2015, since we expect the Fed to start raising interest rates in September 2015, but it is likely to be limited downside due to enter into seasonal consumption growth period. ”

The actual demand for gold is still mixed in Asia, the largest consumer of gold, between buy baht in China, while the purchase rates in India has consolidated in recent weeks.

In Europe, there is concern by investors after Greek leaders statements, that the country will not meet the payment of debts owed to the International Monetary Fund to be paid in June.

The interior minister said the Greek, “Nikos Fotsaz”, ​​on Monday, that Greece will not pay its debts to the International Monetary Fund; the lack of funding.

“The Fotsaz”, ​​in his interview with the television channel Mega, it was due to pay 1.6 billion euros Greece Monetary Fund, during the period from 5 to 19 June.

On the other hand, metals, silver prices fell by 1.76% to $ 16.8140 an ounce. The price of copper fell by 1.31% to $ 2.8335 a pound.

Platinum prices have fallen about $ 14.82 to $ 1132.44. Palladium prices of $ 2.27 and dropped to $ 781.76.

Leave a Reply

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