Gold Reaches 10 Month Low Closes Due To Losses equity selloff

Learn Commodity : Gold falls on its 10-month low on Thursday as investors redeem the precious metal to cover kerugiuan sharply on equity after a disappointing private sector report. Gold as a traditional safe haven, failed to capitalize on tensions in the Korean peninsula, where North Korea has menggeraknyak what appeared to be a missile Musudan into its eastern coast, according to Yonhap news agency in South Korea.

Gold fell as low as $ 1,541.14 an ounce, its lowest level since May. After the rally up to its highest level in March on concern Europe's fiscal stability, respect bailout Cyprus problem. U.S. in June gold contract fell $ 9.10 an ounce to $ 1,544.40, smentara other precious metals also fell sharply.

Stock weakened in Asian session after a bad data raises fears of non-farm payroll report U.S. later this week will be a signal slowdown in U.S. growth, while market players awaited developments on the Korean peninsula.

U.S. companies hire workers in the smallest amount of this March in 5 months disebabkanya reduced labor demand from the construction sector, while the growth of the services sector slowed, signs of economic growth may be volatile.

Signs of economic growth may lead the Federal Reserve to stop its program of buying U.S. bonds and securities, which typically support gold prices, faster than expected. Fear of the central bank printing money to buy valuable assets will cause inflation have been driving gold prices, which have rallied up 11-month high recorded in October last year after the announcement of QE3 by the Fed.