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Reuters, (14/6) - Gold eased for a
second session on Friday as investors worried about an early end to the
Federal Reserve's massive bond-buying stimulus on the back of strong
U.S. data.
Spot gold fell 0.1 percent to $1,384.01 an ounce by 0023 GMT after losing about 0.15 percent on Thursday following stronger-than-expected U.S. data. U.S. gold rose about $6 to $1383.6. U.S. retail sales rose more than expected in May and first-time applications for unemployment benefits fell last week, signs of resilience in the economy. Investors fear a strengthening economy could prompt the Fed to start winding down its $85 billion monthly bond purchases that have supported gold prices. Net gold imports into India have fallen from an average of $135 million in the first half of May to $36 million in the second half, the finance minister said. The government has raised the import duty on gold and curbed gold financing in an effort to cut its current account deficit. SPDR Gold Trust, the world's largest gold-backed exchange-traded fund, said its holdings fell 0.63 percent to 1,003.53 tonnes on Thursday to fresh four-year lows. |
Written by: Kontak Perkasa Futures
PT.Kontak Perkasa Futures, Updated at: 9:18 AM
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