Gold fell on Friday to trade near the psychological level of $ 1200.00 an ounce for the second day in a row. This decline is due in our opinion, the main due to the force taking place in the US dollar as still positive data on unemployment benefits, down by 21 thousand in the last week and released yesterday fueling this increase.
In fact, the rise in the US dollar index-measures the performance of the dollar against six currencies-not only because of the low unemployment benefits under the negatives witnessed by US data during the last period, but because the markets were so keep an eye out for the results of the meetings of finance ministers of the euro zone, especially after the submission of Greece for its proposal Yesterday, which calls for the extension of the rescue plan for six months.
The frequency of news between Germany rejected the Greek proposal and permit a government sources since a few that have been agreed by 80% in the form of satisfied Athens and lenders European markets increased from a loss making dealers resort US dollar and Japanese yen as Mlaven safe. Gold is often the US dollar and the Japanese yen posted this property, any safe haven in times of crisis, but inflation low in the world brushed gold for this relatively stature.
The final say in gold movements today will be the outcome of the meetings of the European region and interpretations of her investors, while not neglecting the artistic side is where 1195.00-1200.00 areas represent good support, and breaking it will lead to further losses.
In fact, the rise in the US dollar index-measures the performance of the dollar against six currencies-not only because of the low unemployment benefits under the negatives witnessed by US data during the last period, but because the markets were so keep an eye out for the results of the meetings of finance ministers of the euro zone, especially after the submission of Greece for its proposal Yesterday, which calls for the extension of the rescue plan for six months.
The frequency of news between Germany rejected the Greek proposal and permit a government sources since a few that have been agreed by 80% in the form of satisfied Athens and lenders European markets increased from a loss making dealers resort US dollar and Japanese yen as Mlaven safe. Gold is often the US dollar and the Japanese yen posted this property, any safe haven in times of crisis, but inflation low in the world brushed gold for this relatively stature.
The final say in gold movements today will be the outcome of the meetings of the European region and interpretations of her investors, while not neglecting the artistic side is where 1195.00-1200.00 areas represent good support, and breaking it will lead to further losses.
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