PT Equityworld : GOLD PRICE Spot Up 2.80 Points To Level US $ 1,258.70

PT Equityworld-Gold futures on the COMEX division of the New York Mercantile Exchange ended lower on Tuesday (Wednesday morning GMT), the US dollar exchange rate depressed showing strength. The US dollar index rose 0.84 percent to 97.70 at 17:45 GMT.

The index is a measure of the US dollar against a basket of major currencies. Gold and the dollar usually move in opposite directions, which means that if the US dollar rises, the gold futures will fall because gold is measured in dollars more expensive for investors.

However, gold is prevented from further decline due to weakness in the health sector US pushed the Dow Jones Industrial Average US fell 213 points or 1.17 percent at 17.45 GMT. Analysts noted that while equities posted a loss of the precious metal usually rises as investors seek assets “safe haven”, while conversely when US equities posted gains, the precious metal is usually down.
read : PT Equityworld : The Movement of Stock Markets in Hong Kong Observed to Weaken in The Third Trading Day
Since there are no significant economic data released on Tuesday, investors focused on the potential for the Federal Reserve to raise interest rates from 0.50 to 0.75 during the December FOMC meeting. According Fedwatch tool CME Group, the implied probability at this time to raise interest rates from 0.50 to 0.75 was 10 percent for a meeting in November 2016, and 70 percent at a meeting in December 2016.

Traders are also awaiting several Fed speeches on Wednesday, along with the release of the minutes of the meeting of the Federal Open Market Committee (FOMC) of the US central bank meeting earlier.

In addition, the jobless claims report will be released on Thursday, and the producer price index and retail sales report will be released on Friday. Silver for December delivery fell 15 cents, or 0.85 percent, to close at 17.509 dollars per ounce. Platinum for January 2017 delivery fell 15.6 dollars, or 1.62 percent, to close at 949.8 US dollars per ounce. Follow the live gold price movements today


Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )


Connecting to %s