Recovered some of the gold recovered on Thursday after falling attracted hunters in overnight transactions but the high dollar and the dashed expectations of further monetary easing in the United States made the precious metal vulnerable to further selling.
He returned some jewelers in Hong Kong for the immediate market, but holders of the metal in other parts of Asia turned their money into stocks after investors again on risky assets after strong U.S. economic data and monetary policies of consensus to a global central banks.
Spot gold and record the highest level in the session at 1648.41 dollars per ounce and reached 1643.59 dollars by the time 0703 GMT, up $ 1.49 from the previous close. The gold has fallen more than two percent on Wednesday after the U.S. central bank to ignore the reference to further monetary easing.
Said Ronald Leung, director of Lee Cheong Gold Dalers in Hong Kong, “Morale is very bad, of course. Get off after about $ 1,650 an ounce may continue to decline to $ 1600.” He added that any recovery will be limited to gold and leave him in a range between 1675 and 1680 dollars per ounce.
Silver and settled little changed at 32.07 USD/Troy an ounce, while platinum fell 0.4 percent to 1664 dollars an ounce and palladium 0.93 percent to 688.75 USD/Troy an ounce.