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Gold Fell Stressed The Strengthening Dollar

Jakarta (Benchmark News) – Gold futures on the COMEX Division of the New York Mercantile Exchange ended up falling on Wednesday (12/10/2016), emphasizing the strengthening of the U.S. dollar and traders waited for the release of the US Federal Reserve meeting treatise after market closing. The most active gold contract for December delivery was down 1.9 us dollars or 0.15 percent, be settled in u.s. dollars 1, 252.30 per ounce.

Investors are eagerly awaiting the meeting of the open market Committee meeting of the treatise Federal (FOMC) previously to be released after the closing of the market. Analysts noted that investors believe that the Fed will raise interest rates at the FOMC Meeting from 0.50 0.75 during December. According to CME Group Fedwatch tools, current implied probability to increase the level of 0.50 0.75 is nine percent for November 2016 and 70 percent at a meeting December 2016.

The US dollar index rose 0.24 percent to 97.94 at 19:00 GMT. The index is a measure of the dollar against a basket of major currencies. Gold and u.s. dollar usually move in opposite directions, which means that if the US dollar rose gold futures will fall, because the dihargakan gold in u.s. dollars, becomes more expensive for investors. The U.S. Labor Department released employment and labor turnover Survey on Wednesday, preventing the precious metal from further decline, as US data was worse than an estimate of encouraging investors to assets “haven” gold. The report showed employment declines 7.3 percent in August to a level of 5,443 million. Analysts noted weak data survey recruitment mendgemuorong job. Silver for December delivery will go down 0.4 cents, or 0.02 percent, closing at 17,505 US dollars per ounce. Platinum for delivery in December 2017 down 7.9 dollars, or 0.83 percent, to close at 941.9 US dollars per ounce.

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