Gold falls as dollar rises
Duncan Richardson, News Editor
4 Apr 2014, 10:21 a.m.
Gold dropped back yesterday after the Euro fell against the dollar following the European Central Banks’s decision to hold interest rates at record lows. The ECB also reconfirmed their intention to adopt unconventional measures if inflation remains low.
Positive U.S. economic data, including better-than-expected private sector hiring and non-payroll data, acted as a drag on the gold price.
Gold slipped 0.5% at one point to $1,282.70 per ounce, silver declined 0.8% to $19.78 per ounce, palladium climbed 0.4% to $785.25 per ounce and platinum increased 0.4% to $1,438 per ounce.
Today, the market will be looking to the release of U.S. payroll data which will provide an indicator to the health of the U.S. economy.