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- Gold cheaper against the dollar strengthening
Gold cheaper against the dollar strengthening
Gold cheaper against the dollar strengthening and fall in stock markets. The euro fell against the dollar because of the lack of news about the financial aid provided by Spain, and the stock markets down after publication of unexpectedly weak quarterly report Google.
Eurozone leaders have promised that the fund for the euro zone - the European Stability Mechanism (ESM) - will be able to make direct recapitalization of the banks, but only when it begins to operate a single banking supervisor. This will happen during 2013, but not in the early years, as the previously hoped EU leaders.
Market participants expect carefully planned for this weekend's regional elections in Spain. It is believed that for Madrid this election is a key obstacle in the way of to ask for help.
Released last week, the strong U.S. economic performance negatively impacted the gold market, causing investors to question the expansion of the Fed's stimulus.
Working gold mine KDC West in South Africa on Friday went to work, completing month strike, said the owner of the mine Gold Fields.
In anticipation of the weekend preparing gold closed the second week in a row down, which has not happened since May.
November futures price of gold on COMEX today dropped to $9.30 and is now $1735.80 an ounce.
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