Gold prices dive on news from USA

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USD

368.44

EUR

425.59

RUB

5.1179

GEL

138.69

Economy

19.07.2012, 14:12

Gold prices went down Wednesday as the United States issued its statistics and the Federal Reserve Head Ben Bernanke commented on the state of the national economy.

Gold prices dive on news from USA

YEREVAN, July 19. /ARKA/. Gold prices went down Wednesday as the United States issued its statistics and the Federal Reserve Head Ben Bernanke commented on the state of the national economy.

August futures dropped by 1.2% to 1,570.8 dollars per troy ounce by the end of the trades.

According to the U.S. statistics a number of new houses in the U.S. climbed by 6.9% in June from May and by 23.6% from June a year earlier to 760,000. The analysts expected this number to reach 745,000.

Moreover, the investors focused on Ben Bernanke’s speech which states there will be no new softening of credit-monetary policy in the United States, RIA Novosti reports.

Gold prices rose by almost 10 % in 2011. In June of 2012 gold prices jumped by 2.8%, and in the second quarte-r fell by 4%. —0-

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