Gold prices fell on Monday, the European market at the beginning of the week after last week recorded the largest monthly loss since June 2013, and prices fell with the rise in the US dollar ahead of data on expenditure in the United States may increase the expectations of raising US interest rates in September next September.
Gold trading by 10:05 GMT, around $ 1092.73 per ounce from the time the opening level of $ 1095.66, and recorded the highest level of $ 1097.65, and a low of $ 1091.90.
The Finish precious metal trading on Friday, up by 0.7 percent within the corrections after recorded in earlier trading, the lowest level in a week to $ 1079.82 an ounce, down metal by 0.4 percent over last week’s trading in sixth weekly loss in a row in the longest chain weekly losses since April of 2004, and the loss of about 7 percent over the month of July trading elapsed largest monthly loss since June 2013.
Gold prices suffered broad losses for the last month with US data improvement and the assurances of the Federal Reserve to raise interest rates this year, and the expectations of experts to witness the meeting of the Council in September next September first increase in US interest rates since 2006.
The US currency rose 0.2 percent against a basket of currencies comes on top of the euro and the Japanese yen, however affect the price of gold negatively because of the inverse of their relationship, and waits for the US economy later in the day data on spending and the manufacturing sector may emphasize the improved US economic growth and increase expectations near the lifting of US interest rates.
Gold holdings at SPDR Gold Trust Fund the world’s largest gold-backed funds indices fell on Friday by about 7.45 metric tons the largest decline since July 17 July to total 672.7 metric tons is the highest level since 2008 holdings.