Gold extends losses 10/2/2015
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    Gold extends losses 10/2/2015

    Gold extends losses

    BAGHDAD / Obelisk: Gold continued its losses for the sixth straight session, falling to its lowest level, with alert investors to the US jobs data, which may give an indication on the timing of the Federal Reserve (the US central bank) to raise interest rates.

    By 06:49 GMT, decline in the spot price of gold 0.4 percent, to $ 1108.70 an ounce ounce, after falling earlier in the session to $ 1107.55, its lowest level since September 16. The metal lost nearly three percent since the beginning of the week, the biggest drop since the week ending July 24.

    And silver fell 0.1 percent to $ 14.44 an ounce. Platinum fell 0.9 percent to record of $ 892.35, while palladium fell 0.02 percent to $ 672.85 an ounce.

    Economists predict, surveyed by "Reuters" their views, that non-farm payrolls report shows that American employers hired 203 thousand workers in September, up from 173 thousand in August. The report will support the strong view that the economy is recovering enough to raise interest rates this year, which could hurt gold.

    Last edited by Doodle Brain; 10-03-2015 at 07:42 PM.

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