Roudao – Erbil
Gold prices fell after the dollar pared losses briefly followingthe release of data on the US manufacturing sector and therecovery of US stocks from low levels, while the market istrying to assess the deadline to raise interest rates in theUnited States.
The data published on Wednesday in an acceleration Activity American manufacturing sector industries in May / May for the third consecutive month, although new orders growth continued its slowdown in factories while facing a slowdown in external demand and weak capital spending in the energy sector.
Gold was directed to land at 0.4 percent online transactions to $ 1210.31 for ounce by 1850 GMT, posting losses of the tenth meeting was held at eleven years, and the loss of metal about six percent in May / May, the largest loss of its kind in six months .
And dropped the price of gold futures US contracts for August delivery 0.2 percent to reach at the settlement of $ 1214.70 an ounce, while almost gold has risen 15 percent since the beginning of the year, but stalled after that reinforced the Federal Reserve Meeting Minutes (US central bank) in April, expectations of policy tightening cash.
And increases to raise US interest rates from the cost of lost opportunity costs of the holders of gold, which does not generate interest rates, while the dollar supports making the yellow metal more expensive to holders of other currencies.
The dollar hit its lowest level in two weeks against the Japanese yen, but pared losses against the euro and the yen and the Swiss franc after US manufacturing data.
Among other precious metals, silver fell 0.3 percent in the spot transactions to $ 15.93 an ounce, platinum lost 1.1 percent to $ 966.24 an ounce, while palladium fell 0.2 percent to $ 545.26 an ounce.