{"id":63304,"date":"2014-11-07T06:22:35","date_gmt":"2014-11-07T11:22:35","guid":{"rendered":"http:\/\/countingpips.com\/?p=63304"},"modified":"2014-11-07T06:50:11","modified_gmt":"2014-11-07T11:50:11","slug":"gold-continues-to-decline-as-dollar-strengthen","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2014\/11\/gold-continues-to-decline-as-dollar-strengthen\/","title":{"rendered":"Gold Continues to Decline as Dollar Strengthen"},"content":{"rendered":"
November 7, 2014<\/div>
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By HY Markets Forex Blog<\/a><\/u><\/strong> <\/p>\n

Gold prices extended losses on Friday as it dropped to the lowest level since April 2010 as the US dollar continue to strengthen after the release of an upbeat US jobless claims, while the market focus on the release of the US non-farm payrolls report.<\/p>\n

“US unemployment claims dropped to 278,000, lower than forecasts and far below the 300K mark widely followed by markets. With ADP and jobless claims beating expectations; odds are increased for a strong NFP on Friday,” Jasper Lawler of CMC Markets commented.<\/p>\n

Gold declined 0.83% to $1,133.10 per troy ounce on Friday, the weakest price in four years. Silver future slid 2.26% lower to $15.065 an ounce, the lowest since February 2010.\u00a0<\/span><\/p>\n

The US dollar index, which measures the strength of the greenback against a basket of major currencies, climbed 0.15% to 88.145 on Friday.<\/p>\n

The yellow metal slid by almost 1.1% to $1,130.40 an ounce on the Comex in New York.<\/p>

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Gold is projected to end this year at $1,100 and finish at $800 in 2015, according to ABN analyst Georgette Boele, while Goldman Sachs forecasts a drop to $1,050 by the end of 2014.<\/p>\n

Gold prices are expected to hits its second annual decline for the first time since 2000, while the US Federal Reserve is forecasted to increase interest rates next year, according to analysts.<\/p>\n

Assets in the world\u2019s biggest gold-backed exchange-traded fund slid to 732.83 tons on Thursday, falling for a third day to the lowest since September 2008.<\/p>\n

A report from the World Gold Council showed China\u2019s demand for the commodity fell to 52% to 192.5 metric tons in the second quarter from the previous year. China overtook India in 2013 as the world\u2019s largest gold consumer.<\/p>\n

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The post Gold Continues to Decline as Dollar Strengthen<\/a> appeared first on | HY Markets Official blog<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

By HY Markets Forex Blog Gold prices extended losses on Friday as it dropped to the lowest level since April 2010 as the US dollar continue to strengthen after the release of an upbeat US jobless claims, while the market focus on the release of the US non-farm payrolls report. “US unemployment claims dropped to […]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-63304","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/63304","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/comments?post=63304"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/63304\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=63304"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=63304"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=63304"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}