Global Gold Intercepted U.S. Economic Data

 

Global gold prices retreated because the market is still worried about the U.S. central bank ( the U.S. ) will begin to cut stimulus bond purchases . However, this short-covering bouillon , offering investors some support .

U.S. employers hired more workers than expected in November , and the unemployment rate reached its lowest point in five years at 7 percent . These data increase the likelihood the Federal Reserve cut stimulus bonds .
Chicago Fed President Charles Evans , who has become one of the most ardent supporters of the program said the U.S. central bank stimulus , the Fed could cut bond purchases this month , although he prefers to wait .
Launched by Reuters on Monday ( 09/12/2013 ) , Spot gold fell $ 1 , 95 , or 0.2 percent, to USD1.227 , 24 per troy ounce . The precious metal fell sharply to a five- month lows , after strong U.S. jobs data . While U.S. gold futures , Comex Gold for December delivery edged down 0.16 percent , or $ 2 an advanced USD1.227 per USD .
SPDR Gold Trust, the world's largest gold exchange-traded fund , said its holdings fell 3 tonnes to 835.71 tonnes on Friday .
Hedge funds and investment managers raised their bullish bets in gold futures . Speculators switch to net short silver , and for the first time since the end of June . India gold imports may fall 70 percent by the end of the fourth quarter of 2013 from 255 tonnes in the year-ago period . ( )