Gold Drop a Third Day on Greece Bailout Deal, Fed Rate Outlook

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Gold Drop a Third Day on Greece Bailout Deal, Fed Rate Outlook

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PT. Equityworld Futures – Gold fell for a third straight session after Greece secured a deal paving the way to a new bailout and as investors weighed the timing of a U.S. interest-rate increase.

Gold futures for delivery in August fell 0.2 percent to settle at $1,155.40 an ounce at 2:04 p.m. on the Comex in New York.

The Bloomberg Dollar Spot Index, a gauge of the greenback’s strength against 10 major currencies, climbed as much as 0.7 percent, reducing the allure of bullion as an alternative asset.

Holdings in exchange-traded products backed by gold slipped for a third session on Friday, declining 1.3 metric tons to 1,585.3 tons, near the lowest since 2009.

Silver futures for September delivery fell 0.2 percent to $15.457 an ounce, the first drop in four sessions.

Platinum futures for October delivery added 0.4 percent $1,036 an ounce on the New York Mercantile Exchange. Palladium futures for September delivery climbed 1.3 percent to $658.95 an ounce.

Sumber : www.ewfpro.com

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