Bloomberg Anywhere Remote Login Bloomberg Terminal Demo Request


Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.


Financial Products

Enterprise Products


Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000


Industry Products

Media Services

Follow Us

Gold Futures Fall on Stimulus Outlook, Dollar’s Rally

Gold fell the most in a week on bets that the Federal Reserve may refrain from more U.S. stimulus measures, while the dollar’s rebound eroded the appeal of the metal as an alternative investment.

Data from ADP Employer Services showed today that U.S. companies added more workers than forecast in June, which may ease concern that the labor market is deteriorating. The euro tumbled to a four-week low against the dollar after the European Central Bank cut its benchmark interest rate to a record.

“There is now less impetus for the policy makers to expand the balance sheet,” Bart Melek, the Toronto-based head of commodity strategy at TD Securities Inc., said in a telephone interview. “The dollar’s strength is not helping matters.”

Gold futures for August delivery fell 0.8 percent to settle at $1,609.40 an ounce at 1:40 p.m. on the Comex in New York, the biggest drop for a most-active contract since June 28.

In the second quarter, the metal slumped 4 percent as the dollar gained 3.3 percent against a basket of major currencies.

Silver futures for September delivery fell 2.1 percent to $27.672 an ounce in New York.

On the New York Mercantile Exchange, platinum futures for October delivery dropped 0.9 percent to $1,477.70 an ounce, ending a three-session rally. Palladium futures for September delivery slipped 2.2 percent to $585.75 an ounce.

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.