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Gold tumbles 1.5% as dollar prices rise - Daily News Egypt

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Gold tumbles 1.5% as dollar prices rise

Future trading in the COMEX division of the New York Mercantile Exchange dropped to $1,436.60, their lowest rate since last July.


The price of gold dropped 1.3% to $1,438.51 per ounce (AFP Photo / Michal Cizek)
The price of gold dropped 1.3% to $1,438.51 per ounce
(AFP Photo / Michal Cizek)

The price of gold decreased 1.5% last Friday as US dollar prices rose. This has led to the increase in sales of precious metals, whose value dropped to their lowest level in two weeks.

The price of gold immediately dropped 1.3% to $1,438.51 per ounce at 6.28pm GMT. Previously, prices had dropped 2.5% to $1,420.60.

Future trading in the COMEX division of the New York Mercantile Exchange dropped to $1,436.60, their lowest rate since last July.

Meanwhile, the price of the dollar rose to its highest rate in four years on Friday compared to the yen, in addition to that of European shares. The price of German bonds decreased, however, after the release of America’s recent job figures, which turned out better than most had expected, leading Japanese investors to begin purchasing foreign bonds.

 

Topics: Gold US dollar

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http://www.dailynewsegypt.com/2013/05/11/gold-tumbles-1-5-as-dollar-prices-rise/
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