The movement of gold little changed at the opening of the European trading sessionon Friday (29/05) this afternoon amid anticipation of investors against its first quartereconomic growth data in the US later on this evening. In the past few days us economic data strengthened the successful u.s. dollars. In New York, Comex gold futures for August delivery was stable at position $1, 188.50. The August contractwhich expires on Thursday, rose 0.19 percent yesterday in position 1, 188.80 per ounce.
Golden rod
Spot gold hovering above the low level two and a half weeks on this day, with very few changes to the price of 1, 188.35 per ounce in the morning Sunday. Spot goldbriefly fell to a low level 1, 1 180.55 on Thursday but then recovered slightly as theDollar Rally pauses and the weakening of stock prices. In this week, the precious metalhad declined 1.4 percent.
U.s. Dollar Gap
The u.s. dollar was taking a breath of penguatannya these past few days, includingagainst the Yen which has been dipukulnya up to USD/JPY 124.00 up penetrate a few sessions ago. U.S. data released last night seemed to be not strong enough to supporta rally in the Greenback. Preliminary figures for unemployment claims reaching282,000 versus expectations of 270,000 and higher than previous figures. U.S. pending home sales data rose 3.4 percent, much higher than the estimated rise of 0.9 percent and the previous data.
According to analysts of gold about Forex, the GDP Report will be released todaytonight can potentially lead to obscurity in the position of a market fueled by hawkishcomments on the Chairman of The Fed's Yellen last Friday, if its news releases can be interpreted as a contraction of more than 1% in the us economy without a clear signthere will be a rebound in Q2.
