Gold Down In 4th Session Because Strengthening Dollar

PT Equityworld, Jakarta Gold prices fell in the fourth consecutive session in yesterday's trading. The decline in gold prices triggered by the strengthening dollar makes gold cheaper for those holding other currencies.

The dollar strengthened after the advent of the statement of the Governor of the Federal Reserve Janet Yellen. Yellen said that the Fed will raise interest rates in the near future. Yellen also leave a comment on the economy and policy of Donald Trump.

"The positive comments regarding the strengthening of the labor market Yellen apes and notes that inflation toward the target figure of 2 percent, the possibility could make the Fed raise interest rates in March," said Brien Lundin, editor Glod MarketWatch newsletter launched on Wednesday (15.02.2017 ).

Gold for April contract fell 40 cents to settle at US $ 1225.4 per ounce. Yellen before the statement appeared, the price of gold was traded at US $ 1,236.

"But overall, not a lot of moving relative gold on that day, which is good for commodities," said Ross Norman, CEO of Sharps Pixley.

"Yellen hawkish and dollar rally, which is expected to reduce the sparkle of gold,"


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