Equity world : GOLD PRICE DECEMBER 1 Down in Trading Yesterday, Listen Movement Early December

Equity world-Gold futures on the COMEX division of the New York Mercantile Exchange tumbled on Wednesday (Thursday morning GMT), as the US dollar surged US economic data supported stronger.

The most active gold contract for February delivery plunged 16.9 dollars, or 1.42 percent, to settle at 1173.90 dollars per ounce. The US dollar strengthened significantly due to two strong economic reports gave support to the currency. The US dollar index, which measures the dollar against a basket of major currencies, rose 0.53 percent to 101.52 at 18:00 GMT.
Illustration gold price falls - Reuters

Gold and the dollar usually move in opposite directions, which means that if the dollar will rise, gold futures fell, because gold is measured in dollars more expensive for investors. Gold was put under further pressure when a report released by Automated Data Processing (ADP) that is based in the US on Wednesday showed new jobs rose at a rate better than expected at 216,000 in November, compared with 147,000 during the previous month.

Analysts noted that the report comes ahead of a big employment report for November on Friday (2/12) and put pressure on the precious metals, pushing investors away from gold to switch to assets more favorable interest monosyllabic.



Equity world : Gold Prices Decline 1 Percent Distressed US Dollar Strength Down 8 Percent in November

A report released by the US Commerce Department on Wednesday showed the size of personal income and spending increased 0.6 percent during October, with consumer spending increased 0.3 percent. While consumer spending is in line with expectations, the increase in personal income showed an unexpected reinforcement, above consensus estimates range highs. It also put pressure on gold as investors pushed away "safe haven" of precious metals.

Silver for March delivery fell 25.8 cents, or 1.54 percent, to close at 16.482 dollars per ounce. Platinum for January delivery dropped 11.4 dollars, or 1.24 percent, to close at 909.90 dollars per ounce.


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