Forex Marketz Daily Forex News – Fully Markets Update
Gold futures continued to slip lower during today’s Asian trade session. The price of the yellow metal is near a four month low thanks to trader sentiment switching to risk on that sent Asian stocks higher that tracked a solid day on Wall Street. Overnight, the benchmark S&P 500 set an all-time record high.
As of 1 am GMT, the widely traded spot gold contract was trading lower. This contract was down 0.1 percent to trade at $1,270.40 per ounce. This contract hit its lowest price level since the end of last year at $1,265.90 in the last trade session.
U.S. gold futures, for front end delivery, also fell. This contract lost 0.1-percent to trade at $1,272.50 an ounce.
The stock markets were broadly higher today as solid corporate earnings boosted Nasdaq and S&P 500 benchmarks to set record closing highs during the overnight North American trade session.
The U.S. dollar is near a 22 month high price point thank to better than expected housing data was released.
Gold Traders Look at Economic Data out of the United States
Sales of new U.S. single family homes hit an 18 month high for the month of March, Numbers were supported by lower mortgage rates and lower house prices.
U.S. gross domestic product data for the first quarter will be released on Friday.
The two most indebted countries in the European Union, according to official EU data, Greece and Italy, saw their debt levels balloon for last year. The Eurozone, as a whole, saw their debt levels decrease last year.
