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Gold near its lowest level in three weeks with the rise of stocks and the dollar
Agencies - approached the price of gold from its lowest level in three weeks on Wednesday with the release of strong data on the growth of the US economy boosted stocks and the dollar, which weakened demand for the precious metal as a safe haven.
Showed data released on Tuesday, the pace of US economic growth rate of five percent in the third quarter, the fastest pace in 11 years in the strongest indication yet that the acquisition of the growth momentum.
The Dow Jones indicator and the S & P 500 Alomrakian to record levels at the close on Tuesday after the release of US GDP report tracked Asian stocks impact on Wednesday. The dollar index jumped to its highest level in nearly nine years.
And lead the rise of stocks and the dollar to reduce the demand for the precious metal, which is often considered an alternative investment tool for high risk assets. Strong Federal Reserve data has been paid (US central bank) to raise interest rates soon, which reflected negatively on the gold, which does not generate interest.
The price of gold rose slightly in spot transactions to $ 1179.20 an ounce ounce by 0717 GMT, but remains close to its lowest level in three weeks to $ 1170.17 an ounce hit on Monday. If the metal down from this level it may suffer more casualties.
The gold is heading to the second annual losses incurred in a row, although losses amounting to two percent this year, tiny compared demoted 28 percent in 2013.
Among other precious metals silver, platinum tends to record annual losses, while palladium is heading towards a third consecutive annual increase due to supply concerns.
By 0717 GMT, silver rose 0.64 percent rate to $ 15.77 an ounce and platinum rose 0.18 percent to $ 1187.99 an ounce, while palladium rose 0.27 percent to $ 810.75 an ounce.
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