Ka-please I don't even live here. ES
- Thread starter aquarian1
- Start date
The Bloomberg Dollar Spot index, which tracks the greenback against 10 peers, climbed to the highest in 14 months amid speculation that economic reports this week will back the case for the Federal Reserve to boost interest rates next year. A report today showed U.S. job openings held close to a more-than a 13-year high in July.
“The dollar strength is working against gold,” Frank Lesh, a trader at FuturePath Trading LLC in Chicago, said in a telephone interview. “Worries about higher interest rate are keeping buyers away.”
Gold futures for December delivery fell 0.3 percent to $1,250.70 an ounce at 12:15 p.m. on the Comex in New York after touching $1,248.50, the lowest for a most-active contract since June 6. Trading was 11 percent below the average for the past 100 days for this time, data compiled by Bloomberg show.
The precious metal lost 5.1 percent this quarter through yesterday on concern that the Fed will raise interest rates as the economy gains traction. Policy makers will meet Sept. 16-17.
source:http://www.bloomberg.com/news/2014-...month-low-as-dollar-s-climb-curbs-demand.html
“The dollar strength is working against gold,” Frank Lesh, a trader at FuturePath Trading LLC in Chicago, said in a telephone interview. “Worries about higher interest rate are keeping buyers away.”
Gold futures for December delivery fell 0.3 percent to $1,250.70 an ounce at 12:15 p.m. on the Comex in New York after touching $1,248.50, the lowest for a most-active contract since June 6. Trading was 11 percent below the average for the past 100 days for this time, data compiled by Bloomberg show.
The precious metal lost 5.1 percent this quarter through yesterday on concern that the Fed will raise interest rates as the economy gains traction. Policy makers will meet Sept. 16-17.
source:http://www.bloomberg.com/news/2014-...month-low-as-dollar-s-climb-curbs-demand.html