Gold falls with the rise of the dollar


Gold falls with the rise of the dollar
Gold falls with the rise of the dollar


Gold prices fell on Friday, due to the high dollar and the release of strong US data, but the metal is heading to record the second weekly rise in a row, following the gains made earlier this week, with the support of the demand for safe havens.
And dropped the price of gold in the spot transactions 0.7 percent to $ 1219.50 an ounce (an ounce) by at 07:38 GMT.
The yellow metal rose more than two percent since the beginning of the week, despite failing to promote strong gains paid to its highest level in seven weeks at $ 1238.20 on Wednesday.
The decline in gold today with the rise of the dollar against most other major currencies, which is due to reasons including the US retail sales data, which revealed new signs on the strength of the economy issuance.
And lead strength of the economy and the US currency to weaken the glitter of gold as a safe haven, also suffer from higher metal stocks.
Investors are watching precious metals also moves the energy sector, as the decline in oil prices may limit demand for gold as a hedge against inflation.
Continued Brent coming off Friday to fall to its lowest level in five and a half years at $ 63 Bermaln which led to an increase in losses since the beginning of the week about eight percent, amid continuing fears of a glut of global supply and demand prospects bleak.