Gold on track to end two week rally behind strengthening dollar
December 19, 2014 2:57 am
Gold is approaching recording its first weekly loss in three weeks behind the Federal Reserve’s comments that indicated it is nearing its first interest rate hikes.
Spot gold traded at a price per ounce of $1,196.31 mid morning Singapore time, slightly down from yesterday’s $1,198.57. The precious metal has declined by 2.2% so far this week, based on generic pricing from Bloomberg. It hit its lowest in two weeks on December 17th when it reached $1,183.89 after the Fed changed its intention to keep borrowing costs low for an extended period of time.
Gold declined behind equity markets around the world rallying and dollar weakening demand for alternative investments.
Futures for gold with a delivery date in February increased by 0.2% for a price per ounce of $1,196.70 on the Comex in New York.
Spot silver traded at a price per ounce of $5.8915, up from yesterday’s $15.885.
Platinum for immediate delivery was mostly unchanged at $1,199.63 per ounce, while palladium went from $792.70 per ounce to $792.50.
The material has been provided by InstaForex Company – www.instaforex.com
Gold is approaching recording its first weekly loss in three weeks behind the Federal Reserve’s comments that indicated it is nearing its first interest rate hikes.
Spot gold traded at a price per ounce of $1,196.31 mid morning Singapore time, slightly down from yesterday’s $1,198.57. The precious metal has declined by 2.2% so far this week, based on generic pricing from Bloomberg. It hit its lowest in two weeks on December 17th when it reached $1,183.89 after the Fed changed its intention to keep borrowing costs low for an extended period of time.
Gold declined behind equity markets around the world rallying and dollar weakening demand for alternative investments.
Futures for gold with a delivery date in February increased by 0.2% for a price per ounce of $1,196.70 on the Comex in New York.
Spot silver traded at a price per ounce of $5.8915, up from yesterday’s $15.885.
Platinum for immediate delivery was mostly unchanged at $1,199.63 per ounce, while palladium went from $792.70 per ounce to $792.50.
The material has been provided by InstaForex Company – www.instaforex.com
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