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    01.07.2015 15:25 Gold traded lower on a stronger U.S. dollar

     

    Gold traded lower on a stronger U.S. dollar. The greenback rose against the other major currencies after the release of the mostly better-than-expected U.S. economic data. The Institute for Supply Management's manufacturing purchasing managers' index for the U.S. climbed to 53.5 in June from 52.8 in May, exceeding expectations for a gain to 53.1. It was the highest level since January.

     

     

    Construction spending in the U.S. rose 0.8% in May, exceeding expectations for a 0.6% gain, after a 2.1% increase in April. April's figure was revised down from a 2.2% rise.

     

     

    Private sector in the U.S. added 237,000 jobs in June, according the ADP report on Wednesday. It was the biggest increase since December 2014.

     

     

    The U.S. final manufacturing purchasing managers' index (PMI) fell to 53.6 in June from 54.0 in May, beating the previous estimate of a decline to 53.4. It was the lowest level since October 2013.

     

     

    The Greek debt crisis remained in focus. Greek Prime Minister Alexis Tsipras said in a speech on Wednesday that Greeks should vote "no" in Sunday's referendum. He added that "no" would not mean that Greece have to leave the Eurozone.

     

     

    Earlier, Greek prime minister signalled that he was ready to accept the most spending cuts demanded by the country's creditors.

     

     

    German Finance Minister Wolfgang Schaeuble said on Wednesday that there was no basis to have further negotiations with Greece.

     

     

    August futures for gold on the COMEX today declined to 1168.90 dollars per ounce.

     

     


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