- Dec 08, 2016 -
Since early June gold fell from $980 an ounce July 8 $910. But then rebounded as the dollar retreated against the euro, is currently trading near the $939.
Economic indicators show no rise in prices, short-term inflation concerns eased. Recently published data show decline in Eurozone inflation in June at an annual rate of 0.1%, United States June CPI rate fell 1.4%.
Appreciation of the dollar against the euro in the past months against gold. Our expectations of analysts have revised the euro/dollar foreign exchange, exchange rate expected for the third quarter rose from 1.35 to 1.45. In view of the dollar against the euro in the second quarter dropped to the bottom, and will release more downward pressure on the exchange value is expected in the next few months. Although the dollar against gold, but weaker-than-expected profit in the second quarter, may account for the decline in investor risk appetite, which will benefit gold.
As of July 7, net non-commercial positions were unchanged at 164,000. Net outflow of funds ETF for a fourth straight week last week, a total of about 7 tons.
First half of India's gold imports amounted to 62 tons, compared to 139 tons.
South Africa May decline in gold production over the same period of 10.5%.