Turn Gold prices to Lowest Level since January?

NEW YORK, Make Money Blog - Gold futures fell to their lowest levelsince January last trading day on Thursday (03/22/2012) local time.At 13:44 pm New York time, the price of gold contract for Aprildelivery fell 0.5 percent to 1642.50 dollars per troy ounce on theComex in New York.


In the previous transaction, the same contract in the position1627.50 U.S. dollars per troy ounce, which is the lowest level sinceJan. 13. Even so, throughout the year, gold prices have gone up 4.8percent.

The decline in gold prices triggered by the presence of a signal of slowing economic growth in China and Germany. Conditions thatencourage the strengthening U.S. dollar that cut demand for gold.

Just so you know, the Standard & Poor's GSCI Index 24commodities fell 1.6 percent, while the U.S. dollar strengthened 0.4percent against six major world currencies. "The weak production levels in Asia and Europe promoting a stronger dollar. Later, the dollar is becoming strong as the decline in gold prices," saidBernard Dahdah, an analyst at Natixis Commodity Markets Ltd..

Meanwhile, jewelry merchants in the south and east Asia willcontinue to strike to protest high taxes. Based on the association ofIndian jewelry, nearly half of the country's jewelry store was closed.(Barratut Taqiyyah / Cash)
suorce: kompas.com
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