Fell precious metals beginning of morning trading, their lowest levels since two months after economic data confirmed the slowdown in the pace of growth of the Australian economy pace worse than expected and the last quarter, and affected by the price of gold with control of the tension on the markets with the expectation agreement Greece with the private sector about the swap bonds.
Real-time price fell for gold by 0.10% to record levels of trading around 1,672.26 USD/Troy an ounce influenced by the repeated references of global economies for the loss of momentum to get back on track after the aggravation of the sovereign debt crisis in the eurozone and fears of the fall of Greece.
Gold prices fell after the economic data that confirmed the worst-than-expected growth in the fourth quarter, GDP recorded a growth of 0.4% compared with the previous recorded a growth by 1.0% worse than expected, which indicated the growth rate of 0.8%.
Gold prices began a sharp decline since the start of trading weekly after that, China has cut the outlook for growth this year, and then confirmed as the euro area took place in a slight recession in the fourth quarter of this year.
Landed ounce gold as investors awaited agreement swap Greek bonds, which revolve around many of the rumors that Greece will postpone the deadline set by the eighth of this month to reach an agreement on a swap Greek bonds, and this is why the euro and European equities to fall very sharply .
Came the decline in metal prices after the lit Institute of International Finance fears in the markets the warning of the negative effects of the occurrence of Greece is in danger of bankruptcy and the inability to pay debts, and this is what it will cost the euro zone trillion euros, and as the crisis will spread to other European countries such as Spain and Italy in case of failure of the Greek bond swap deal.
That the main reason for the decline in metal prices at the present time, is the decline in risk appetite among investors that the gold of financial instruments with a low-yielding and high risk, and in return the investors to buy assets with low-yielding, such as the U.S. dollar, strength of the U.S. dollar direct cause for the decline in gold prices .
Gold prices followed the Asian stock indices, which fell for a third day in a row, The state of the dominant uncertainty on the future of the global economic recovery, and upon the completion of Greece and swap bonds Greece and this is what makes the general feeling in the market shrouded in fear and tension and decrease trust.
Trahat silver by 0.36% and traded silver prices now around levels of $ 32.89 per ounce compared to opening price at $ 32.90 and recorded a low of $ 32.75 and a high of $ 32.95, and stepped up futures contracts for copper by 0.58% to record levels of trading about $ 3.75 an ounce.
Trading price of gold is currently $ 1,763.09 on the levels of an ounce and recorded a high of $ 1,678.49 and a low of $ 1,671.95 compared to 1,674.05 at the opening price of $.