Gold Prices Down!

SINGAPORE Newsecoinfo Reported- Gold prices fell due to the strengthening of the United States dollar (U.S.) ahead dipublikasinya nonfarm payrolls report.
As quoted by Reuters on Friday (01/04/2011), price of gold in the spot market dropped by $ 4, 33 per ounce to USD1.432, 15 per ounce. And on Thursday (31/03/2011) yesterday, the price of gold is nearly one percent on concern the global inflation triggered by stronger oil prices. Previously, the gold price even touched its highest level in USD1.447 last week.

While in the futures market, the price of gold for April delivery fell $ 6, 2 per ounce to USD1.432, 7 per ounce.
U.S. nonfarm payrolls are expected to increase to 190,000 after rising 192,000 in February. Thus, according to Reuters survey the unemployment rate will stabilize at its lowest level during the last two years at 8.9 percent.

U.S. dollar exchange rate is in its lowest position versus the euro and especially towards the beginning of commodities in Asia amid statements from senior officials of the Federal Reserve. While crude oil prices in the U.S. rose to its highest level since two and a half years driven by fears of conflict in one of the members of OPEC, Libya. (Newsecoinfo)