Gold Futures Prices Lower But Downside Seen Limited, Hawkish Central Banks Weigh

Gold Futures Prices Lower But Downside Seen Limited, Hawkish Central Banks Weigh

Prices of gold futures fell on Friday amid falling dollar and declining stocks, and is still low data optimistic economic growth in the previous session US, despite hawkish comments by many central banks have led gains in the dollar.

On the Comex Exchange, gold futures for August delivery eased 0.08% to $1,244.91.

Spot gold rose 0.1 per cent to $1,246.62 per ounce.

US gross domestic product (GDP) rose 1.4 percent in the first quarter, after adjusting for a 1.2 percent expansion, official data showed on Thursday. Analysts was expecting growth to remain stable from the previous review.

Raise the Fed’s interest rates earlier this month, leaving the door open for further increases later in the year, although the group of mixed economic data recently, investors have questioned whether the Fed will be able to stay on track tightening planned.

USD index, which tracks the dollar against a basket of currencies, the new hit its lowest level in nine months at 95.470 on Friday, Asian stocks and pulled down the weak markets in Europe and the United States.

The comments were top central banks including the European Central Bank President Mario Draghi, Governor of the Bank of England, Mark Carney, senior policy-makers in the Bank of Canada earlier this week indicated that quantitative easing is placed back in its box, and you will go interest rates above.

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