Gold futures and received a three-session loss of just over
3%, while maintaining the lowest level since late June, but prices recovered
from low of the session. The force deleted before, relieving pressure on the
dollar-denominated gold before the U.S. employment Friday's data. +0.06%.
In
June GCM3 gold lost $ 1.10, or 0.1%, to settle at $ 1552.40 an ounce on the
Comex division of the New York Mercantile Exchange.
That was the lowest
settlement for a most-active contract since June 28 FactSet data shows, but
cutting prices most of its losses in the last minutes of trading on Comex. With
data from payrolls barrel, technical traders do not want to be caught short
with that "critical catalyst" in the morning, said Jeffrey Wright,
managing director of Global Hunter Securities.
Gold futures managed to cut losses on Thursday in the final minutes of trading as the dollar fell before the jobs data from the United States, but the metal still saw its third straight session decline.
Gold for June delivery GCM3 +0.07% fell $ 1.10, or 0.1%, to settle at $ 1552.40 an ounce on the Comex division of the New York Mercantile Exchange. It touched an intraday low of less than $ 1540, then compared to much of their losses by the close.
Japanese relief excites Asia
Asian markets rise after the Bank of Japan publishes its aggressive plans to combat deflation.
With data from payrolls barrel, technical traders do not want to be caught short with that "critical catalyst" in the morning, said Jeffrey Wright, managing director at Global Hunter Securities.
The strong dollar had pressured gold prices in dollars, with the U.S. dollar rally against the Japanese yen after the Bank of Japan announced an aggressive monetary expansion in a bid to end deflation and stimulate growth economic.
But near the end of the Comex session, the dollar lost more ground against the euro EUR USD -0.07% as the market mulled comments from European Central Bank President and the decisions of the European Central Bank and the Bank of England to maintain monetary policy on hold, as expected.
The ICE Dollar Index DXY 0.05%, which measures the U.S. currency against a basket of six major rivals, fell to 82.643, from 82.712 seen Wednesday night in North America.
Currency traders and metals alike are seeking employment for U.S. Friday's data. Following a rise in weekly jobless claims in the U.S. to a database and disappointing four months in private payrolls, figures nonfarm payroll will provide a clue to when the Federal Reserve purchases facilitate assets.
Gold Clearance
On Wednesday, gold fell $ 22.40, or 1.4%, amid selling in the largest fund gold-backed exchange-traded GLD -0.29%.
Prices have lost a total of 3.1%, or $ 48.50 an ounce in the last three trading sessions.
How to bet on gold now
Gold timers with the best track records are more pessimistic than those with the worst track records.
The Federal Reserve seems to be much closer to end quantitative easing, probably sometime this year, which is moderating the speculative demand for gold, "said U.S. Bank Wealth Management senior investment strategist Robert Haworth.
However, among the factors that could provide support for gold is the potential of a further banking crisis in Europe, such as Slovenia, Haworth said, "which may require more intervention from the ECB and easier monetary policy."
Meanwhile, analysts at Credit Suisse in a note published on Wednesday that have cut their forecast for 2013-1580 gold dollars from $ 1,740 an ounce. For 2014, they have cut their forecast to $ 1,500 from $ 1,750 an ounce.
In Comex, silver prices fell, posting their seventh straight session decline.Silver for May delivery fell SIK3 +0.29% 3 cents, or 0.1%, to 26.77 dollars per ounce."Gold and silver are trading within a hair of their 2012 lows," said Peter Hug, director of global trade in Kitco Metals Inc., in a note daily market, adding that "flatten look" at of $ 1,530 gold, silver aimed at $ 26.30. "These levels should maintain or serious damage will occur, especially gold, you can see evidence of the level of $ 1470."
Among other COMEX, July futures PLN3 platinum fell $ 24.10 0.23%, or 1.6%, to $ 1517.80 an ounce and palladium for June delivery sank pAM3 +0.05% $ 30, or 4%, to $ 725.45 an ounce. Both metals marked a decline of three sessions.
Copper broke the general trend in the market, with copper tacks May HGK3 +0.27% in about 2 cents, or 0.6%, to $ 3.35 a pound.
Gold for June delivery GCM3 +0.07% fell $ 1.10, or 0.1%, to settle at $ 1552.40 an ounce on the Comex division of the New York Mercantile Exchange. It touched an intraday low of less than $ 1540, then compared to much of their losses by the close.
Japanese relief excites Asia
Asian markets rise after the Bank of Japan publishes its aggressive plans to combat deflation.
With data from payrolls barrel, technical traders do not want to be caught short with that "critical catalyst" in the morning, said Jeffrey Wright, managing director at Global Hunter Securities.
The strong dollar had pressured gold prices in dollars, with the U.S. dollar rally against the Japanese yen after the Bank of Japan announced an aggressive monetary expansion in a bid to end deflation and stimulate growth economic.
But near the end of the Comex session, the dollar lost more ground against the euro EUR USD -0.07% as the market mulled comments from European Central Bank President and the decisions of the European Central Bank and the Bank of England to maintain monetary policy on hold, as expected.
The ICE Dollar Index DXY 0.05%, which measures the U.S. currency against a basket of six major rivals, fell to 82.643, from 82.712 seen Wednesday night in North America.
Currency traders and metals alike are seeking employment for U.S. Friday's data. Following a rise in weekly jobless claims in the U.S. to a database and disappointing four months in private payrolls, figures nonfarm payroll will provide a clue to when the Federal Reserve purchases facilitate assets.
Gold Clearance
On Wednesday, gold fell $ 22.40, or 1.4%, amid selling in the largest fund gold-backed exchange-traded GLD -0.29%.
Prices have lost a total of 3.1%, or $ 48.50 an ounce in the last three trading sessions.
How to bet on gold now
Gold timers with the best track records are more pessimistic than those with the worst track records.
The Federal Reserve seems to be much closer to end quantitative easing, probably sometime this year, which is moderating the speculative demand for gold, "said U.S. Bank Wealth Management senior investment strategist Robert Haworth.
However, among the factors that could provide support for gold is the potential of a further banking crisis in Europe, such as Slovenia, Haworth said, "which may require more intervention from the ECB and easier monetary policy."
Meanwhile, analysts at Credit Suisse in a note published on Wednesday that have cut their forecast for 2013-1580 gold dollars from $ 1,740 an ounce. For 2014, they have cut their forecast to $ 1,500 from $ 1,750 an ounce.
In Comex, silver prices fell, posting their seventh straight session decline.Silver for May delivery fell SIK3 +0.29% 3 cents, or 0.1%, to 26.77 dollars per ounce."Gold and silver are trading within a hair of their 2012 lows," said Peter Hug, director of global trade in Kitco Metals Inc., in a note daily market, adding that "flatten look" at of $ 1,530 gold, silver aimed at $ 26.30. "These levels should maintain or serious damage will occur, especially gold, you can see evidence of the level of $ 1470."
Among other COMEX, July futures PLN3 platinum fell $ 24.10 0.23%, or 1.6%, to $ 1517.80 an ounce and palladium for June delivery sank pAM3 +0.05% $ 30, or 4%, to $ 725.45 an ounce. Both metals marked a decline of three sessions.
Copper broke the general trend in the market, with copper tacks May HGK3 +0.27% in about 2 cents, or 0.6%, to $ 3.35 a pound.
.jpg)
.jpg)
