Gold Prices Down On Lack of Demand From China

Equity World, Jakarta closing trading price of gold less mengggembirakan yesterday. After an increase in several sessions, gold prices closed down.

The dollar edged slightly affect the movement of gold. Analysts also warned that gold demand from China will slow slightly due to Chinese New Year celebrations on holidays this weekend.

MarketWatch launch, Wednesday (01/25/2017), the gold price in the trading session had touched its highest level in 10 weeks. But moving back down at the end of the trading session.

Gold for February delivery fell $ 4.8 or 0.4 pesen to settle at US $ 1.1210,80 per ounce after rising 0.9 percent on Monday to settle at US $ 1,215.60, tettinggi since 17 November 2016.

Gold prices rise in 4 weeks. Gold began to react positively to the statement by President Donald Trump, where he came out of the Trans Pacific Partnership and will renegotiate Aerican Free Trade Agreement.

In addition to the rise in the dollar makes gold cheaper for holders of other currencies, the decline in gold prices is also affected demand down from China.

“In the past two weeks, Chinese demand has led gold prices rose, but ahead of the Lunar New Year this weekend, conditions will change because the Chinese are going on vacation,” said Julian Phillips, Founder GoldForecaster.com.

read Antam Gold Prices Down 3,000 Rupiah per gram | Equity World

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