Gold
futures fell to the lowest in almost a month as gains for the dollar
cut demand for the precious metal as an alternative asset.
The
dollar climbed to a 10-year high against a basket of 10 counterparts as
traders sought safety from volatility in emerging markets. Investors
favored the U.S. currency over gold as signs of a stronger American
economy increase the likelihood that the Federal Reserve will raise
interest rates for the first time since 2006.
Gold
dropped 29 percent in the previous two years, posting the first
consecutive annual decline since 1998 as equities surged to a record and
the U.S. economy gained traction. Higher rates cut gold™s allure
because the metal generally offers investors returns only through price
gains. A government report Tuesday that showed gains for American job
openings underscored the thriving labor market.
Gold
futures for April delivery fell 1 percent to settle at $1,219.60 an
ounce on the Comex in New York, after touching a four-week low of
$1,218.20.
Sumber : Bloomberg
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