Gold Drops on Higher Borrowing Costs Expectations On expectations for higher borrowing costs in the U.S., the precious metal, gold, is heading toward its first quarterly loss this year, having traded near its weakest nine months level, whilst the U.S. dollar performed its best quarterly rise since the financial crisis. Based on generic pricing data, gold for immediate delivery climbed by 2:24 p.m. in Singapore since yesterday, from $1,215.81 to $1,216.57 an ounce. The precious commodity reached its weakest level since Jan.2, to $1,207.04 on Sept.25, having dropped since the end of June 8.3 percent, erasing this year’s gains obtained from Middle East and Ukraine’s recent tensions in place. On expectations that the Federal Reserve will be minimizing the purchasing of assets as the economy improves, gold dropped in 2013 by 28 percent. On the Comex in New York, December’s gold dropped from $1,218.80 yesterday to $1,217.30 an ounce. Spot platinum reached $1,311.10 an ounce, having escalated 0.2 percent, and palladium approached $791.03 an ounce, having risen 0.1 percent. Silver for immediate delivery, trimmed this year’s first quarterly drop and its three months retreat, having climbed 0.1 percent to $17.5212 an ounce. STO: TRADE WITH US GLD CFD
Posted on: Tue, 30 Sep 2014 07:45:56 +0000
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