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Thursday, August 9, 2012

gold futures prices 8/10/2012

gold futures prices 8/10/2012 : On the Comex division of the New York Mercantile Exchange, Gold futures for October delivery traded at USD1612.35 a troy ounce at time of writing falling 0.36%.

It earlier traded at a session low USD1611.75 a troy ounce. Gold was likely to find support at USD1603.95 and resistance at USD1619.15.

Chinese trade data for July showed exports rising just 1 per cent over a year earlier, sharply below forecasts of 5 per cent. Import growth fell to 4.7 per cent from the previous month's 6.3 per cent, also below forecasts.

Meanwhile, the trade surplus with the 27-nation European Union, China's biggest trading partner, narrowed by 37.9 per cent to $10.8 billion, reflecting sluggish demand as Europe wrestles with a debt crisis and recession.

The figures, which come a day after China reported a slowdown in auto sales and factory output, underscored concerns that the world's No. 2 economy is succumbing to an economic downturn despite government efforts to stimulate growth.

US Dollar Index, which tracks the performance of the greenback versus a basket of six other major currencies, rose 0.09% to trade at USD82.75.

Elsewhere on the Comex, Silver for September delivery fell 0.71% to trade at USD27.898 a troy ounce while Copper for September delivery fell 1.07% to trade at USD3.387 a pound.

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