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Wysłany: Pon 13:14, 10 Sty 2011 Temat postu: Gold falls for third straight onitsuka tiger shoe |
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Gold falls for third straight day on improving economic outlook,asics shoes outlet
Gold futures on the COMEX Division of the New York Mercantile Exchange Thursday dropped for the third straight trading day on betting that Friday's employment data will indicate an improving economy in U.S.,asics tiger shoes,Chinese banks, which would cut demand for the gold as safe haven.
The most active gold contract for February delivery dropped two dollars,cheap asics shoes, or 0.15 percent, to close at 1,asics tiger shoes sale,371.7 dollars per ounce.Bond traders said that Friday's report may show U.S. payrolls would rise for a third consecutive month and the unemployment rate may decline to 9.7 percent,Asics Mexico 66 Baja, which would pare the appeal of gold investment as a safe heaven.
Moreover, the world's largest gold exchange-traded fund SPDR further slashed its gold holding to 1,asics shoes,272.7 metric tons from 1,asics onitsuka tiger rotation 77,276. 48 metric tons,Asics Mexico 66 outlet, which also weighed on Thursday's gold sentiment.The gold price has suffered correction for three consecutive trading days and touched 1,364 dollars on Wednesday,Asics Mexico 66, the lowest level since Dec. 16.
However,asics onitsuka tiger shoes, investors are widely confident in gold's prospect. A metal analyst noted that the investment demand would propel gold prices to fresh record highs in 2011,cheap asics running shoes, as the gold's fundamentals are unlikely to drag prices lower. Physical demand for gold has softened but remains healthy for the time of year.
Besides,Asics Gel Shoes, investors' demand for a hedge against the prospects of accelerating inflation could also help buoy up the gold market.Silver futures for March delivery slipped 7.2 cents, or 0.25 percent, to 29.126 dollars.
Chinese equities closed higher Friday after speculation Ping An Insurance was planning to raise a large amount of funds proved false, easing liquidity concerns.The benchmark Shanghai Composite Index rose 0.52 percent, or 14.60 points,Onitsuka Tiger Mexico 66 Lauta, to close at 2,tiger shoes,838.80 points.The Shenzhen Component Index lost 0.2 percent,Asics Ultimate 81, or 25.72 points, to close at 12,Heading for China's futures market,573.94 points.
Combined turnover increased to 235 billion yuan (35.61 billion U.S. dollars) from 206.2 billion yuan the previous trading day.Ping An Insurance (Group) Co.,asics running shoes sale, China's second-largest insurance company, added 0.8 percent to close at 53.01 yuan after a spokesman for the company said he was unaware of any fund-raising plan and that the company's fundamentals were sound.
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