New York Gold Prices Fall 6 Days
suffer
dollar
Strong pressure, gold prices 6 days after high and then down.
On the same day, the most active December contract for gold futures trading on the New York mercantile exchange closed at $1873.3 an ounce, down 3.6 dollars from the previous paction, or 0.2%, and the intraday price hit a high of 1923.7 dollars per ounce on that day.
Market analysts said that although the gold price was raised by the Swiss central bank's support to the Swiss franc against the euro exchange rate, the US dollar weakened sharply, weakening the gold price.
Investment
Value, and thus suppress the price of gold.
The US dollar index of the US dollar against a basket of currencies fluctuated around 75.9 on the 6 day, up nearly 1% from the previous trading day.
As international gold prices are denominated in US dollars, the rise in the US dollar means that gold is more expensive for investors holding other currencies and constitutes a negative impact on gold prices.
In addition, the data released by the US Supply Management Association showed that its service sector index rose from 52.7 in August to 53.3 in August, after which the market generally expected that the index would decline, thereby slowing down the worries that the service sector is the biggest component of the US economy, and to some extent, depressed the price of gold.
But most analysts are right.
gold
The long-term trend is still promising, because the benefits of supporting gold have not changed, such as market investors' concerns about the European debt problem and the US economic downturn and the anticipation of the new round of quantitative easing policy.
Silver futures prices for December delivery fell $1.2, or 2.8%, at $41.868 an ounce.
Platinum futures in October closed at $1858.2 an ounce, down 26.6 US dollars from the previous session, or 1.4%.
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