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Falling Gold Works Against the Dollar

Falling Gold Works Against the Dollar

Gold started the week falling, contradicting the evolution of the US dollar, penalized by the perspective that interest rates may rise in the world’s largest economy sooner than expected.

The door was opened by US Treasury Secretary Janet Yellen, who signalled yesterday in a Bloomberg interview that a slightly higher interest rate environment would be favourable for the economy and society.

Gold is down 0.4% to 1 884.13 dollars, after rising 1.1% on Friday, penalised by lower-than-expected US job creation in May.

Jobs increased by 559,000, while the unemployment rate fell to 5.8%.

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