The Magazine for Asian Investors
Gold prices fall below $1,800 per ounce for a second day as the dollar strengthens.
Gold futures fell 0.28%, or $5, to $1,796.50/ounce.
Silver futures fell 1.3%, or 31.7 cents, to $24.20/ounce.
Platinum contracts fell 1.99%, or $19.8, to $979.0/ounce.
Palladium contracts fell 4.9%, or $116.20, to $2,182.00 an ounce.
The movement index of the dollar against the six major currencies in a basket of currencies rose 0.15% to 92.6501. The appreciation of the dollar pushed down the price of gold. Since gold is priced in dollars, it is expensive for investors holding other major currencies.
The Job Openings and Labor Turnover Survey (JOLTS), a measure of labor market demand, also released, reached 10.9 million jobs in July. That is the highest level since data collection began in 2000 and is above analysts’ estimates of 9.9 million jobs.
After the publication of the survey figures, there was a sell-off in gold. Investors are now looking ahead to the next monetary policy event, the Federal Reserve meeting on September 21 and 22.