Gold Continues To Drop After Positive US Figures

Gold traded above the lowest price in more than two weeks in New York as investors weighed tension over Ukraine against signs of an improving U.S. economy.

Data today may show a U.S. manufacturing gauge expanded after a report yesterday showed the Conference Board’s index of leading indicators rose the most in four months. Gold ended a 12-year bull run in 2013 on expectations the Federal Reserve would reduce stimulus as the world’s largest economy recovers.

Bullion slipped 7.3 percent since reaching a six-month high on March 17, when the Ukraine crisis spurred demand for a haven. An agreement to ease tensions showed signs of crumbling as the U.S. and Russia traded blame, while Vice President Joe Biden was meeting government leaders in the Black Sea country.

via Bloomberg

This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.

Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza