Tuesday, June 7, 2011

Gold fell with the rise of stock markets


Gold fell on Tuesday as the rise of stock markets spur some investors to sell to reap the profits from the precious metal to plunge from the highest level in a month, which record the previous session on concerns about slowing U.S. economic recovery.
The gold rose five percent in the past three weeks has met with support from a range of U.S. economic data disappointing, including the weak jobs data on Friday.
By the time 1638 GMT, the price of gold in the online transactions of $ 1538.59 an ounce, after rising earlier in the transaction up to the level in 1550 dollars.
The price of gold futures for August delivery at the COMEX division of the New York Mercantile Exchange of $ 1540.80 an ounce, down $ 6.40.