Analysts: economic data gold lose some of the gains the dollar and pay for recovery

Analysts: economic data gold lose some of the gains the dollar and pay for recovery



Sun, 16 Oct 2016 19:30:58

# Algmehorah_uz

Analysts commodity markets and Minerals said that the announcement of retail sales growth is in favor of raising US interest rates; which prompted gold investors to take profits, and give the dollar a chance to recover again.

The US Department of Commerce, said that US retail sales rebounded in September, rising 0.6%, producer prices increased also the largest annual increase recorded since her December 2014.

Gold fell in late New York trading market, the previous session, decreased prices in online transactions 0.5% to $ 1251.75 an ounce, fell futures prices of the precious metal 0.2% to $ 1255.5 an ounce.

Aladdin said Farhan, an analyst at Capital Trust, the retail sales data suggest growth prospects of an increase in interest rates this year; which prompted gold to fall to the level of $ 1,200.

It influenced gold to raise US interest rates , which increases the opportunity cost of lost on the holders of the yellow metal , which does not raise revenue, while its dollar - denominated metal reinforcing.

Farhan: The yellow metal is facing in the coming sessions significant resistance at $ 1260 and impenetrable positioned to levels of 1270 - to $ 1280 per ounce, subject of the announcement of negative data.

He hilarious: if it fails to cohesion above $ 1250, it has continued to fall in the region of $ 1225, which re - Peixrha level of $ 1,200 a test, and then recommend to ease the sales centers.

Yet these data confirm the strength of the US economy, the dollar index , which tracks the US currency 's performance against a basket of six major currencies in overnight trading 0.55% up to 98.08.

He explained Mahmoud conspiracy analyst currency markets in a statement, that the dollar index is not facing any weakness of current indicators.

He advised the conspiracy, investors in US currency to expand the purchasing centers under the technical targets designed to continue to climb in the coming sessions.

And the conspiracy, that there are investors awaited data the dollar during the WEEK, GS will be influential in her lead inflation data and the index of industrial Flalvia

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