Forex Education Center And Investment-Gold Prices Fall to Lowest Level,Gold prices fell to a four-year employment data responding strengthening the United States (USA) who sparked investor concerns about how quickly the Federal Reserve or the Federal Reserve (Fed) would raise interest rates.
Reporting from the Wall Street Journal, Saturday (10/04/2014), the most active gold contract for December delivery fell US $ 22.2 or 1.8 percent to $ 1,192.9 an ounce on the Comex division of the New York Mercantile Exchange. While the contract for October delivery fell $ 22 or 1.8 percent to $ 1,192.2 per ounce. Figures tu is the lowest closing price since August 3, 2010.
Precious metals prices have been sliding for months, as investors worried the Fed will raise interest rates which will dampen demand for gold.
The Labor Department reported data on non-farm payrolls rose 248 thousand last month, above economists' forecasts for 215 thousand. It was the fastest pace of job growth since June. Meanwhile, the unemployment rate fell to 5.9 percent from 6.1 percent in August.
"US jobs data reinforce the predictions the Fed will raise interest rates sooner," said Bob Haberkorn, senior commodities broker RJO Futures in Chicago.
Fed officials previously have said the labor market is stronger will pave the way for monetary policy tightening. In addition, strong economic growth tends to erode investor demand for protective assets such as gold.
Not only the price of gold, other metals such as silver futures back to the lowest level in 4.5 years, with the December contract the most actively traded fell 1.1 percent to $ 16.826 per ounce.
Palladium for December delivery fell 1.8 percent to $ 754.55 an ounce, its lowest close since March 3rd 2014, while platinum fell 3.4 percent to $ 1,226.9 per ounce, Us, the lowest in five years
