Gold prices decline in the last trading session
ecPulse
2014-10-24 13:59PM UTC
Gold prices fell with the beginning of Friday’s trading session completing the third consecutive sessions of retreating amid investors re-evaluating developments and economic data. We noticed that the preliminary reading for the PMI manufacturing and service index, in addition to the expanding euro zone economies came contrary to expectations and limited investor’s concerns about the recovery future of the fragile economies of the region in conjunction with the positive corporate results of major international companies recently. What stimulated risk appetite among investors and pushed them to pump liquidity to high-yield markets, and on top of them stock markets amid investor speculations on an early raise of interest rates by the Federal Reserve. It’s worth mentioning that slowdown in growth of the British economy during the third quarter to 0.7% against 0.9%, and according to the preliminary reading of the Gross Domestic Product in conjunction with the expectations of the U.S. New Home Sales for September that could reduce the metals’ losses in the trading session.
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