Gold Price Falls Following Release of Strong US Data

Precious Metals

Reuters reported that the gold price fell again this Wednesday following the release of strong economic data from the US.

Reuters reported that the gold price fell again this Wednesday following the release of strong economic data from the US.
As quoted in the publication:

Spot gold fell 0.6 percent to $1,068.96 an ounce by 1531 GMT. U.S. gold was down 0.5 percent at $1,068.80 after a near 1 percent gain in the previous session after news that Turkey shot down a Russian jet near the Syrian border.
“The Turkey-Russia tension has only had a limited impact and now gold is back on its downward trend mainly due to the dollar and rate hike expectations,” Commerzbank analyst Daniel Briesemann said.

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