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Gold falls after surging 7 days but it is heading for a second weekly gain
3/27/15
Gold fell Friday as traders took profits after a rally that lasted seven days and with the recovery of the dollar thanks to strong US data.
However, the metal is still heading for what seems to achieve a second consecutive weekly gains support from expectations of US interest rates to remain low for a longer period.
Gold found some support in tensions taking place in the Middle East after Saudi Arabia and its allies launched air strikes in Yemen. Usually seen to the precious metal as a safe haven.
The price of gold fell 0.3 percent in the spot transactions to $ 1199.95 an ounce (an ounce).
Among other precious metals, silver fell 0.2 percent to $ 17.03 an ounce.
And down 0.7 percent platinum price to $ 1145 an ounce, while palladium fell 0.6 percent to $ 765.71 an ounce.
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3/27/15
Gold fell Friday as traders took profits after a rally that lasted seven days and with the recovery of the dollar thanks to strong US data.
However, the metal is still heading for what seems to achieve a second consecutive weekly gains support from expectations of US interest rates to remain low for a longer period.
Gold found some support in tensions taking place in the Middle East after Saudi Arabia and its allies launched air strikes in Yemen. Usually seen to the precious metal as a safe haven.
The price of gold fell 0.3 percent in the spot transactions to $ 1199.95 an ounce (an ounce).
Among other precious metals, silver fell 0.2 percent to $ 17.03 an ounce.
And down 0.7 percent platinum price to $ 1145 an ounce, while palladium fell 0.6 percent to $ 765.71 an ounce.
[You must be registered and logged in to see this link.]
