Affected by the strong US dollar exchange rate and gold futures profitability spitting back, New York Mercantile Exchange 28 August gold futures contract at $ per ounce by 17.6, 1238.6 u.s. dollars, representing a decrease of 1.4%.
United States Department of Commerce 28, published data show that in may, United States consumer spending growth 0.2% of personal income growth 0.4%. Because the United States consumer spending accounts for about 70% of the total economy, is the United States as an important indicator of economic activity, although it may increase in consumer spending is limited, but better than 4 months of zero growth and market previously expected, shows that the United States economic recovery, although the lack of power, but the overall situation to improve, so the market sentiment is a low-key, weakened the gold hedging demands.
The g-20 leaders during the weekend summit meeting to request developed countries to strive to achieve a stable recovery at the same time, in 2013 budget deficit in half before, but also pointed out that part of the country's efforts to reduce the deficit or on global economic recovery. This message does not relieve investors recently on global economic recovery prospects of continued concerns, supporting gold period prices touch early liquidation/oz high point $ 1263.7.
Gold remains high early disk shocks, but on the day of the dollar going strong and the price of gold period of two consecutive trading days remain of rally and Intraday breaking $ per ounce 1260 of key price profit back to spit, gold at the close of the day before to spit and all gains, to a drastic fall in closing.
7 month delivery of Silver Futures fell in price per ounce, 43.2 cents to $ 18.678 2.3%. 10 month delivery of Platinum futures price of USD per ounce by 4.1, 1570.4 u.s. dollars, representing a decrease of 0.3%.
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