Gold rises for fear of relapse in the U.S. and is listed as a $ 1109.25 per ounce
| Date: November 9, 2009 | Source: Economic @ 21 |
| Category: Economy | |
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Loading ... Gold maintains its upward trend and is listed as a $ 1,109.25 per ounce, while the dollar gives way at its junction with the majors. The "gold market is very impressive," said Darin Newsom, senior analyst at DTN. "Following U.S. unemployment data on Friday (which was over 10% of the workforce), gold has increased its safe haven status of active worldwide, with the idea that many investors world economies are not as strong as you are saying, "says this expert.
Last Friday gold exceeded the benchmark of $ 1100 driven by the weakness of the "greenback" after meeting the U.S. jobs data, which destroyed 190,000 jobs in October, bringing the unemployment rate to 10.2%, its highest level in 26 years.
Thus, the spot price of gold futures market in New York reached $ 1,100 per ounce, while futures contracts for December delivery traded at $ 1101.9 and 1105.9 reached payable to dollars in contracts maturing in October 2010.
In the currency market, the dollar slipped against the euro after the publication of the U.S. jobs data and came to reach an intraday high of $ 1.4913, but later traded at $ 1.4865.
