laerning-investment.blogspot.com - Gold futures on the COMEX division
of the New York Mercantile Exchange ended down slightly in trading Wednesday
(Thursday morning GMT), depressed modest rise in US equity markets.
The most active gold contract for
April delivery lost 5.5 dollars, or 0.44 percent, to settle at 1257.40 dollars
per ounce. The precious metal came under pressure as US stocks traded higher,
to blunt the appeal of investment to gold.
US stocks ended higher on Wednesday
after moving in a tight range, as investor sentiment was supported by the
"rebound" strong in oil prices. Gold is prevented from further
decline when the US dollar index, which measures the dollar against a basket of
major currencies, fell on Wednesday.
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Gold and the dollar usually move in
opposite directions. In the absence of other economic data due out this week,
traders awaited a US Federal Reserve meeting next week for more clues on
interest rate policy.
Analysts believe that the delay
interest rate hikes the US Federal Reserve remains inevitable because of
economic instability.