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Tuesday 8 May 2018

Gold interrupted its three-day growth

Gold fell yesterday, interrupting its three-day growth after the dollar index returned to its highest levels since 2018. Poor employment data in the US has done little to change the direction of the dollar to strong growth.
We can not fail to note that the reason for the strong dollar is largely rooted in the weakness of other currencies. After extremely bad data on the growth of the British economy, the results of low inflation in the euro area have also become reality.
Or at the moment, investors are on the subject where the data is weaker. And the US economy looks far stronger than others, even in the light of a rise in interest rates and expected new Fed actions.
The spot price of gold fell 0.1 percent to $1,313 per ounce after the metal reached its highest level since April 30 at $1,318.85 per ounce. Gold futures with delivery in June declined by 0.1% to $1,314 per ounce.


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