FXstreet.com (Sydney) – Gold futures continued on their downward trajectory on speculation that a slow economic recovery will lessen demand for the metal. The implication is that a sluggish economy will not give rise to inflation concerns decreasing the demand for gold.
Gold futures for April delivery fell USD 6.00 to USD 1097.20 in New York. Earlier, the metal had fallen to USD 1090.20 which was its lowest level since February 12. Gold’s losses were limited due to the fall in the dollar against major currencies. The dollar fell close to 0.6% due to an unexpected fall in houses sales in the US.
