Online:
Visits:
Stories:
Profile image
Story Views

Now:
Last Hour:
Last 24 Hours:
Total:

MTECHTIPS:-Gold falls sharply for eighth straight day, as it approaches yearly-low

Thursday, March 12, 2015 4:05
% of readers think this story is Fact. Add your two cents.

(Before It's News)

MTECHTIPS:-Gold falls sharply for eighth straight day, as it approaches yearly-low

 

Gold future prices fell for the eighth consecutive day, as prices neared a one-year low amid continuing fears of an interest-rate hike by the U.S. Federal Reserve. Gold prices for April delivery on the Comex division of the New York Mercantile Exchange plunged $10.20 or 0.90% to $1,149.90 a troy ounce. Gold futures dipped below a four-month low, approaching a yearly low of $1,142.47 from early-November. Gold has been in freefall since last Friday when prices declined more than $30 an ounce, following stronger than expected U.S. employment data in the February jobs report. The creation of 295,000 new U.S. jobs, as well as a 5.5% unemployment rate has heightened concerns that the Fed could raise interest rates by June. In turn, the U.S. dollar has soared as expectations of an increase of the Fed Funds Rate has coincided with the start of a EUR 60 billion quantitative easing program by the European Central Bank. The Federal Open Market Committee could remove references of “remaining patient” from its minutes when it meets next on Mar. 17-18. The removal typically indicates that an interest rate hike is imminent. The U.S. Dollar Index, which measures the strength of the greenback against a basket of six other major currencies, continued its march toward 100, approaching a level it has not reached in more than a dozen years. In addition, the sharp rise of the dollar index in recent weeks has marked its second-highest appreciation in 40 years. On Wednesday, the index rose 1.23 or 1.25% to 99.84.

 

WWW.MTECHTIPS.COM

07489294118-119

 

Report abuse

Comments

Your Comments
Question Razz Sad Evil Exclaim Smile Redface Biggrin Surprised Eek Confused Cool LOL Mad Twisted Rolleyes Wink Idea Arrow Neutral Cry Mr. Green

Top Stories
Recent Stories

Register

Newsletter

Email this story
Email this story

If you really want to ban this commenter, please write down the reason:

If you really want to disable all recommended stories, click on OK button. After that, you will be redirect to your options page.