PT. Equityworld Futures - The more the U.S. economy improves, the worse things get for gold bulls.
Bullion erased its
2015 gains and slumped the most in more than a year Friday after a
government report showed American employers added more jobs than
forecast in February. The unemployment rate dropped to the lowest in
almost seven years. Holdings in exchange-traded funds backed by gold
headed for the biggest weekly decline since November.
A stronger economy is
fueling speculation that the Federal Reserve is getting closer to
raising interest rates for the first time since 2006, damping the appeal
of the metal, which generally offer returns through price gains.
Futures fell 5.2 percent last month amid gains in U.S. equities and
easing concern over Greece’s debt.
On the Comex, gold
futures for April delivery fell 2.7 percent to settle at $1,164.30 an
ounce at 1:41 p.m. in New York, the biggest drop since Dec. 19, 2013.
Earlier, the metal slumped to $1,162.90, the lowest since Dec. 1.
Gold dropped 29
percent in the previous two years as the dollar surged and inflation
remained low. Prices climbed 70 percent from December 2008 to June 2011
partly as the Fed held interest rates near a record low.
sumber : ewfpro.com
