Friday, June 8, 2012

The price of gold fluctuates on macroeconomic statistics from the U.S.

The price of gold fluctuates on Friday against the backdrop of ambiguous macroeconomic data on wholesale inventories, and foreign trade balance of U.S. in April, according to data exchanges.

As of 20:35 GMT August gold futures fell by 0.08% - up to 1586.40 dollars per troy ounce. Earlier Friday, precious metals rose in price to 1593.60 dollars per ounce.

The volume of stocks at wholesalers in the U.S. in April rose by 0.6% to $ 483.5 in cash terms billion, although more modest growth projected at 0.5%.

Worse prognosis were data on the U.S. external deficit. In April, a decrease of $ 2.5 billion compared with the revised figure in March to $ 50.1 billion, while analysts expected a reduction to 49.5 billion dollars.

At the same time, the fall in the value of gold has slowed down on the statements of U.S. President Barack Obama, who called on EU leaders to act more decisively to improve the situation with the debt crisis. "The last two years I have tried to express complaints to colleagues in Europe, but now, I think they should show greater unity to consolidate finance and deal with the crisis" - Obama said at a press briefing at the White House.

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