|09-11-2014, 04:58 AM||#1|
Gold is still trading near a 3-Month low for a second day in New York
Gold plunged today in New York and is still actually trading close to three-month low in New York for a second day on signs of calming tensions in Eastern Europe; damping accordingly demand for the metal as a haven asset.
In fact Ukrainian President Petro Poroshenko said Russia has withdrawn more than two-thirds of its troops from his country, after a Sept. 5 truce signaled an end to the conflict that has killed at least 3,000 people.
Beside that there is a lack of data released today and we should keep in our minds last week’s jobs report where the U.S. job creation slowed to its lowest pace of the year in August, a stumble for the labor market that had seen a stretch of steady 200,000-plus gains over the past six months.
Non-farm employment advanced a seasonally adjusted 142,000 in August, according to the Labor Department.
Accordingly the gold is so far trading around $1249.30 an ounce recording a high of $1257.60 ounce and a low of $1243.65 an ounce.
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