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- Gold fell due to the strengthening dollar
Gold fell due to the strengthening dollar
Gold fell after upbeat data on the U.S. labor market, causing a strong appreciation of the dollar. As demonstrated by statistics released by the end of January in non-agricultural sectors of the U.S. economy has been created 243K jobs, well above the average forecast at 125K. The data for December were revised up to 203K with a 200K. At the same time the unemployment rate declined to the level of 8.3% from 8.5% in December.
In addition, the orders in the manufacturing sector grew in December at 1.1%, expected to grow by 1.5%, previous change was revised from 1.8% to 2.2%. Orders for durable goods, according to revised data, in December rose by 3.0% m / m, the previous change of 3.0% m / m The index of economic conditions in the ISM non-manufacturing sector in January was 56.8 points, 53.0 points was expected, the previous value of 53.0 points.
The cost of the February gold futures on the COMEX today fell to 1734.5 dollars per ounce.
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