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FOREIGN EXCHANGE / gold price is clearly to increase with dollar
The price of gold is reflected in European trading weaker. In support, reference is made mainly on the back stronger dollar against the euro. Gold is priced in dollars and thus for buyers from other currency areas unattractive if the dollar appreciates. On Friday, the price of gold had risen with the surprisingly strong U.S. employment data to the mark of $ 1,800 per troy ounce. This had reduced concerns about further stimulus measures. "There is still a chance that gold above the mark of $ 1,800 increases. This depends on the development in Europe and other data from the U.S. economy," says Barclays. Currently the price of gold is trading at $ 1,770.82, down 0.6 percent.
