guides & articles

Related listings

Latest Postings

Subscribe to the hottest news, latest promotions & discounts from STClassifieds & our partners

I agree to abide by STClassifieds Terms and Conditions

Business Advice

Gold tumbles as dollar and economy strengthen

The price of gold is falling after the government's June employment report showed companies adding more jobs in the improving economy. The dollar strengthened against the euro and other major currencies
The Straits Times - July 6, 2013
| More
Gold tumbles as dollar and economy strengthen

NEW YORK (AP) - The price of gold is falling after the government's June employment report showed companies adding more jobs in the improving economy. The dollar strengthened against the euro and other major currencies.

Gold for August delivery fell US$39.30 (S$49.90), or 3.1 per cent, to end at $1,212.70 per ounce on Friday. Silver slid by almost 5 per cent. Other metals were lower as well.

US employers added 195,000 jobs in June and many more in April and May than previously thought. Gold becomes less appealing as a safe haven for investors in a stronger economy.

The price of benchmark crude stayed at a 14-month high, adding $1.98 per barrel to finish at $103.22, as traders watched growing unrest in Egypt and worried about the potential for shipping interruptions in the region. Grains were lower.

pre

PREVIOUS STORY
Business park demand stable, rents unchanged

divider