PT EQUITYWORLD : Gold Prices Down 1 Percent, Reaches Lowest In 10.5 Months

PT Equityworld-The price of gold reached the lowest level since the beginning of February to the end of the trading day on Friday morning (16/12), after the Federal Reserve raised U.S. interest rates, resulting in an increase in Treasury yields and menngkatkan the dollar to the highest in 14 years.

Spot-gold-price-LLG-down 1.2 percent to $ 1,129.62 per ounce. The price of gold had reached the 10.5-month low of $ 1,13

The price of U.S. gold futures for February delivery ended at $ 1,129.80 per ounce.

The interest rates with a view to increasing the range of 0.50-0.75 per cent on Wednesday, the U.S. Central Bank expected to be even faster the next year, the government broke the promise of a new Donald Trump, to cut taxes and increase spending.

This triggered a rally in the US dollar, pushing the price of the asset in the currency, while the yields on US Treasuries rose, lifting the opportunity cost of holding gold.
2.15 per ounce.

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The gold holdings of world's largest-backed exchange-ETF, the SPDR Gold Shares etf, down about 10 percent from mid-November. Holdings fell again on Wednesday, with a capacity of 6.8 tons.

Indian demand cash crunch has pushed "in the last few weeks, after the officials stop the use of several bonds issued by the bank, while merchants in China, said the People's Bank of China has imported limited to the gold market is the largest in the world.

Meanwhile, silver fell by 4.4 percent to $ 16,08 per ounce, and platinum was lower by 1.5 percent at $ 909,99.

Palladium, against the trend, between the most important precious metals, was up by 0.4 percent to $ 722,50. The white metal is mainly used in auto catalysts, and tend to be more correlated with the asset cyclical in addition to gold, silver and platinum.

P estimates the gold price for the next trade is a weak movement after The Fed increased US interest rates, so an increase in the US dollar encourage. To see, however,, bargain hunting, after the gold price fell sharply. The price of gold is not expected that movement in range-support $ 1,128-$ 1,126, but once the price rises to the resistance area of $ 1,132-$ 1,134.

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