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Gold refreshed almost 9-month lows on USD strength

FXStreet (Moscow) - Gold showed swift move lower on Thursday, as the USD popularity came back to the market.

Yesterday’s US New Home Sales showed stronger than expected readings, offsetting the negative outcome of Existing Home Sales, and reviving the hopes for earlier than expected Fed rate hike.

The yellow metal hit its lowest level since January, 2014 reaching 1,206.81 low today. Gold is currently trading at $1,210.47, heading for its second day of slide in a row.

Now the market is focused on the US Durable Orders report and US Jobless Claims. The outcome may have strong impact on the asset. There are some chances we will see lower than expected durable orders after record rise in July, and if so, the metal may show a rebound.

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