investing in gold : Gold prices traded near its lowest price in more than five years on Thursday, amid ongoing speculation that the Fed is on track to raise interest rates in September / September
On the Comex division of the New York Mercantile Exchange fell Gold December delivery rose 30 cents, or the equivalent of 0.03%, to trade at $ 1.085.30 per ounce during European morning trading after hitting the lowest price in the session at $ 1.082.70 per ounce recorded overnight .
A day earlier, gold fell 5.10 cents, or the equivalent of 0.47%, to close at 1.085.60. Dollars per ounce, futures fell to the lowest price since five and a half years by $ 1.072.30 per ounce gold futures fell by 24 and traded as the price of gold rose 79.50 cents, or the equivalent of 6.72%, in July, the largest monthly drop since June 2013.
And exposure to gold selling pressure in recent weeks amid speculation that the Federal Reserve may raise interest rates for the first time in nine years in the coming months.
And affect expectations on higher borrowing rates negatively gold, as the precious metal is struggling to compete with higher-yielding assets when the price goes up.
The dollar index, which measures the strength of the dollar against a basket of six major currencies to trade at 97.91 in early Thursday, down from its highest level in three months in the previous session from 98.33.
The dollar recently rose amid expectations that the improvement in the US economy will prompt the Federal Reserve to raise short-term interest rates in early September / September
Data on Wednesday showed that service sector activity in the United States grew at its fastest pace since August / August 2005 in July July. The Institute for Supply Management {{ec176 || PMI non-manufacturing}} rose to 60.3 last month from 56.0 in June, above expectations of 56.2 from watching.
The data came after it said {{ec1 || non-farm employment in the private sector company}} that jobs rose by 185 thousand jobs last month, below expectations of an increase of 215 thousand jobs.
Market participants are also awaiting the release of non-farm payrolls report from the United States on Friday. Where expectations show that the report will show growth by 223 000 jobs in the last month. The analysts monthly gains above 200 000 is compatible with high employment rate.
Also in the Comex, silver September delivery rose 2.7 cents, or the equivalent of 0.19%, to trade at $ 14.58 an ounce.
Elsewhere in the metals trade, copper September delivery rose 0.8 cents, or the equivalent of 0.33%, to trade at $ 2.356 a pound during morning trading in London.
Copper fell to its lowest level in six years by 2.321 of 3 August / August after data {{ecl753 manufacturing activity}} Chinese pessimistic.
China is the largest consumer of copper in the world, and formed almost 40% of world consumption last year.