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Gold stabilized
Gold prices are kept within a
narrow range at the time, as today's calendar is empty on the U.S.
charts. On Friday, the price of gold fell more than 2% to its
lowest level in 10 days, as investors feared that the improvement
in the U.S. labor market will provoke a completion bond purchases
by the Federal Reserve System.
The number of employees in the U.S. economy, excluding the agriculture sector in May increased by 175,000 with growth forecast at 170,000, and the unemployment rate was 7.6 percent, the forecast of 7.5 percent.
According to the president of the Federal Reserve Bank of Philadelphia Charles Plosser, employment report showed that the reduction in government spending is not as strongly affected by the economy, as some had feared, and that the central bank should reduce the volume of buying bonds immediately. But most of the 19 Fed officials, policy makers feel the need to continue the acquisition of assets by $ 85 billion a month.
Stocks of the world's largest exchange-traded fund backed by gold (ETF) SPDR Gold Trust on Friday fell by 0.06 percent to 1.007,14 tons - the lowest level in four years.
The cost of the August gold futures on COMEX today is trading in the range of 1375.1 - 1387.7 per ounce.
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