Spot gold was down 0.3 percent at $1,268.84 per ounce by 0328 GMT, having hit its lowest since the end of last year at $1,265.90 in the last session.
Gold prices fell on Wednesday to hover around a four-month low touched in the previous session, as share markets rose and the dollar gained after strong U.S. housing data dampened concerns about an economic slowdown in the country.
Spot gold was down 0.3 percent at $1,268.84 per ounce by 0328 GMT, having hit its lowest since the end of last year at $1,265.90 in the last session.
U.S. gold futures were 0.2-percent lower at $1,270.70 an ounce.
"The major factor that is pressuring gold prices is the strength of the dollar, which is also pressuring physical demand," said Peter Fung, head of dealing at Wing Fung Precious Metals in Hong Kong.
The dollar index hovered near a 22-month peak after data showed that sales of new single-family homes in the United States rose to a near 1-1/2-year high in March.
The data eased concerns about a slowdown in the world's largest economy, right ahead of the release of U.S. GDP figures on Friday.
The United States is expected to beat analyst estimates of a 2.1 percent rate of growth with the Atlanta Federal Reserve's GDPNow model projecting growth anywhere between 2.2 to 3.4 percent.
Such an event would lift global Gold and Silver,Spot gold,USsentiment and support the dollar, analysts said.
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