Gold lost demand on all fronts

Gold lost demand on all fronts

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Turkey secretly sold Iran 200 tons of gold - told Zafar Caglayan

The cost of precious metals trading results on April 7 in New York fell . The official spot prices were: Gold – 1297.9 usd . / Ounce ( -0.41 %), silver – 19.97 usd . / Ounce ( -0.45 % ), platinum – 1430.0 usd . / Ounce ( -1.66 %) , palladium – 767,0 usd . / ounce ( -3.05 %).

Gold once again trading slightly above $ 1300 dollars . / Oz . Late last week, the rise in prices took place in spite of good macroeconomic indicators USA ( March, the number of jobs in the country increased by 192 thousand) and the resulting strengthening of the dollar exchange rate which rose against the euro to a five-week high . Apparently , some market players expect higher output indicators , analysts Commerzbank. However, there is doubt whether will be able to keep the price of gold above 1300 dollars . / Ounce this week , given that of the ETF- funds continued outflow of deposits , the volume of which only last week reached 15.3 tonnes – the highest level since the beginning of current year.

Speculative financial investors also continued to leave the gold market : the week before April 1, the number of net long positions fell to 91,500 contracts – the lowest level in the past six weeks . Rather weak character seems to have a demand for gold on the spot market , as indicated not only the sales of gold coins in the United States . So , Turkey in March imported only 2 tonnes of gold , but for the entire quarter import volumes have not reached 10 and that is no doubt that this fact is explained by the significant weakening of the Turkish lira , which resulted in gold prices in local currency soared to 15 – month highs . For comparison , in December , Turkey imported more than 31 tons of gold , analysts at Commerzbank concluded

Tuesday at 8:00 MSK gold futures stood at 1,300.78 dollars . / Ounce ( 0.19 %), silver – 19.93 usd . / Ounce ( 0.14 % ), platinum – 1430.13 usd . / ounce ( 0.16 %) , palladium – 769.4 usd . / ounce ( 0.23 %).

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