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- Gold is cheaper because of the strengthening dollar in the shelling of Jerusalem
Gold is cheaper because of the strengthening dollar in the shelling of Jerusalem
The price of gold down amid falling stocks and of the dollar, as investors prefer the U.S. dollar, which is considered a safe haven, after militants from the Hamas sent rockets into strontium Jerusalem. Geopolitics roost trading recently. The shelling of the city's historic raised fears of war in the region.
After the news about the launch of missiles in the direction of Jerusalem, the dollar began to show large-scale growth, including against major currencies such as the euro and the yen. The Dollar Index Wall Street Journal, which tracks the greenback against a basket of major currencies, hit a new two-month high 71.139, rose by 0.39% compared with Thursday's closing.
In addition, the increased risk aversion pessimistic statements of the former Fed chairman Alan Greenspan about the catastrophic consequences for the markets, if the U.S. government can not solve the problem of the fiscal cliff.
Another factor of pressure were comments from ECB Noyer K. that the question of Greece needs more time or money at the discretion of the government and the IMF.
December futures price of gold on COMEX today fell to 1705.60 dollars per ounce.
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