Goud vindt wederom steun boven $ 1.700.......
Gold futures stayed under selling pressure in electronic trading Friday as the U.S. dollar strengthened, but they managed to find support above the $1,700-an-ounce level.
The yellow metal’s December futures slipped $8.20, or 0.5%, to $1,707.30 an ounce during Asian business hours, after sliding $3.60 an ounce on the Comex division of the New York Mercantile Exchange overnight.
The ICE dollar index, which gauges the greenback’s performance against a basket of six major global currencies, climbed to 80.121 from 80.052 late in North America Thursday. A stronger dollar tends to pressure prices of commodities that are benchmarked in the currency, including gold.
But the yellow metal was expected by some analysts to find some support around current prices after losing more than 4% over the past one month.
“Gold prices at current levels may elicit demand for gold coins by retail investors given recent declines,” said HSBC analysts led by James Steel.
Meanwhile, December futures for silver and copper dropped 0.9% to $31.97 an ounce and 0.7% to $3.53 a pound, respectively.
December palladium futures dropped 0.7% to $608 an ounce, while platinum for delivery in January lost 1% to $1,556.80 an ounce.
By V. Phani Kumar