| Gold continued its decline in the Asian session to trade at 1189.10 down by $3.80, surprising traders. Most predicted gold would climb a bit in the morning after falling $23 on Friday. It was thought that traders in Asian would buy up the cheap commodity. Precious metals are another victim of the dollar’s resurgence as gold futures, lost 1.83% to $1,192 per ounce.
On Thursday Goldman Sachs stuck to its forecast for the price of the “yellow metal” to fall to $1,050 per ounce over the coming twelve months. Precious metals continued losses to touch their lowest this year after U.S. payrolls beat forecasts, boosting the dollar and stoking expectations the Federal Reserve will increase interest. Platinum fell to a five-year low and silver declined to the lowest since 2010...............................................Full Article: Source
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