Gold price is quite stable from lows on Friday as the dollar fell slightly as a reflection on the euro on news that Greece has reached an agreement with international lenders about the savings plan, but traders still watching the currency market.
Gold price After U.S. Economics Data Release
Gold price rose 0.2 percent from the last session trading in New York at $ 1,524.26 an ounce this morning, after fallen 2 percent on Thursday which is the biggest decline in more than one month, after U.S. jobless claims data are disappointing investors, make another risk to be push down the dollar index. Investors sold their gold to cover the sharp losses in the oil markets, equities, and some other commodities.
Greece has won the approval of the EU-IMF team for a five-year savings plan on Thursday, having a commitment in additional round of tax increases and spending cuts.
The euro rebounded from one-week extended the lowest in Asia on Friday. Dollar index, which tracks the performance of the U.S. currency against a basket of other major currencies, fell to 75.278 from 75.795 a week high.
Brent crude oil LCOc1 rebounded more than $ 1 a barrel in Asian Market in early Friday after the emergency oil reserves news release.
