Gold continue weakening after US data

Gold continued weakness after data showed consumer confidence shot in August. While steps People's Bank of China (PBoC) that lower interest rates also helped steady European and US exchanges, and strengthen the dollar, and of course make gold depressed.

Level Conference Board reported US consumer confidence rose to a seven-month high of 101.5, and is the second highest since the recession. Figures in August was higher than economists forecast 92.8, and the previous month at 91.0. Post-recession, consumer confidence reached its highest level in January, amounting to 102.9.

PBoC lowered interest rates on loans and deposits of one year each by 25 basis points. For lending rate will be 4.6% from the previous 4.85%, and is effective starting August 26. China's central bank has cut interest rates five times since November. For the deposit rate to 1.75% from the previous 2%.

Gold traded the range of $ 1,136.75 at 22:33 pm, with daily highs and lows $ 1,156.69 $ 1,134.73