Gold prices have fallen in India today

Gold prices continue rapid downward movement in India and China today

In brief: Investors fear decline of demand for gold in major consuming countries. The level of support for gold falls in India and China.

Gold prices rose on a background of low trading volumes in the run-up to long weekend in the U.S. in the last day of the trading week. At the same time, gold prices have fallen in India and in China today. As a result of the regular trading session on the New York Mercantile Exchange, NYMEX, the August futures for gold delivery have increased by 0,4% to $ 1,207.70 per troy ounce. Last week, gold has fallen in price by 4%.The July futures for the supply of silver fell $ 0.07 to $ 17.72 per ounce. September futures for delivery of copper have fallen in price on 1,4% to $ 2.92 per pound.

Economic data from the U.S. proved to be controversial, but the expected market report on employment was a lot of negatives. The number of jobs outside agriculture in the USA in June fell by 125 thousand, while analysts thought that the decrease in amount of 110 thousand unemployment rate fell to 9.5% – investors consider it a positive factor. In the U.S., the volume of industrial orders in May of this year decreased by 1,4% compared with April. This was said in a statement the Ministry of Commerce. Analysts expect decrease in this indicator should not exceed 0,5%. With the exception of orders for vehicles, manufacturing orders in May fell on the April figure at 0.6%. Unemployment in the euro area in May 2010. unchanged at 10%. This is stated in a report published today the European statistical agency Eurostat. Analysts predicted that this figure will be 10.1%. Support for gold had a dollar decline. The dollar today fell against the euro after a report on employment in the U.S.. Euro has risen in price to $ 1.256 from $ 1.251 on Thursday. Dollar and gold prices have traditionally changed in opposite directions.

Ukrainian Globalist
2010-07-04 14:39, Commodities.

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