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Gold continues to decline for the fifth session and the lowest level in a month
04.11.2015
Gold fell about 2 percent to its lowest level in a month, extending its decline for the fifth straight session, with prices for the metal subjected to pressure by the strength of the dollar and expectations that the Federal Reserve is moving ahead toward raising interest rates this year.
Last week, the US central bank boosted expectations for an increase in interest rates in December disincentive previous conversations that the bad US data and fears of a series on the growth of the global economy may be the first increase in US interest rates in about ten years to defer early next year.
Traders will be watching closely the US economic data this week, particularly the jobs report in non-agricultural sectors, which will be released on Friday in search of evidence about the prospects for an increase in interest rates before the end of the year.
An increase in interest rates put pressure on the yellow metal because the rate hike increases the cost of maintaining the assets that do not generate a profit, while the dollar will boost its gold-denominated.
The price of gold fell in the sales transactions present 1.7 percent to 1114.10 dollars per ounce, its lowest level since the second of October, before recovering slightly to $ 1117.50 at the end of trading in the US market.
It fell US gold futures for December delivery 1.9 percent to a record settlement of $ 1114.10 when an ounce.
Among other precious metals silver fell 1.2 percent to $ 15.27 an ounce and platinum fell 1.3 percent to $ 960.00 an ounce, while palladium fell 0.8 percent to $ 642.00 an ounce. Ended 29/4 e
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