JAKARTA, [IFN] --- Prestige of gold swept strengthening US dollar (US) and profit-taking. In fact, the price of precious metals had raced for seven consecutive days.
According to Bloomberg, Friday (27/3) at 20:00 pm, April 2015 gold contract on the delivery of Commodity Exchange fell 0.27% to US $ 1,201.5 per troy ounce. However, within a week, the price is still up 1.05%.
Naturally, for seven consecutive days of gold had climbed after the Federal Reserve or the Fed decided not to raise interest rates (Fed Rate) in the near future. Moreover, the conflict in the Middle East triggered market participants hunt for gold as a safe haven asset alias safe.
Analyst PT Soe Gee Futures Alwi Assegaf rate, the rate of rise in gold prices stalled after the US release of jobless claims per week and less than the previous week. It showed some degree of recovery in the labor market in the land of Uncle Sam.
Solid data that strengthen the US dollar eroded the appeal of gold. "The correction in gold prices also triggered traders took profits after gold rose sharply," he said, Friday, March 27..
Analyst PT Monex Investindo Futures Vidi Yuliansyah estimates, the price of gold will then be driven release of gross domestic product (GDP). If the result is positive, a stronger US dollar so hard gold rose.
But, said Alwi, the geopolitical situation in the Middle East is still complicated. This could push the gold price movement is very volatile. Predictions, the next week, spot gold moves in the range of US $ 1,165-US $ 1,235 per troy ounce. Meanwhile, Vidi guess, the price of gold will be rolling between US $ 1,180 to US $ 1,218 per troy ounce in the next week.
According to Bloomberg, Friday (27/3) at 20:00 pm, April 2015 gold contract on the delivery of Commodity Exchange fell 0.27% to US $ 1,201.5 per troy ounce. However, within a week, the price is still up 1.05%.
Naturally, for seven consecutive days of gold had climbed after the Federal Reserve or the Fed decided not to raise interest rates (Fed Rate) in the near future. Moreover, the conflict in the Middle East triggered market participants hunt for gold as a safe haven asset alias safe.
Analyst PT Soe Gee Futures Alwi Assegaf rate, the rate of rise in gold prices stalled after the US release of jobless claims per week and less than the previous week. It showed some degree of recovery in the labor market in the land of Uncle Sam.
Solid data that strengthen the US dollar eroded the appeal of gold. "The correction in gold prices also triggered traders took profits after gold rose sharply," he said, Friday, March 27..
Analyst PT Monex Investindo Futures Vidi Yuliansyah estimates, the price of gold will then be driven release of gross domestic product (GDP). If the result is positive, a stronger US dollar so hard gold rose.
But, said Alwi, the geopolitical situation in the Middle East is still complicated. This could push the gold price movement is very volatile. Predictions, the next week, spot gold moves in the range of US $ 1,165-US $ 1,235 per troy ounce. Meanwhile, Vidi guess, the price of gold will be rolling between US $ 1,180 to US $ 1,218 per troy ounce in the next week.
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