Rose gold futures trading at its highest level since late March during trading hours on Monday, with weak manufacturing data reinforced Chinese hope that the decision-makers take in Beijing Tdaberthvez cash new.
Mounting expectations that the Fed was moving closer to stimulate growth in the U.S. economy further gains support after Ben Bernanke's speech Reserve Chairman on Friday.
On the Comex division of the New York Mercantile Exchange, gold futures for October delivery at 689.25, $ 1 per ounce during European morning trade, gaining 0.25%.
Prices traded in a narrow range at 1, 685.75 dollars an ounce, the lowest price for the session and the highest price for the day 691.85, $ 1 per ounce Oil prices rose to 693.05, $ 1 an ounce on Friday, the highest price since March 27.
The gold futures contract is likely to find support at 634.55, 1 Dolarellonsh, the lowest price from August 22 and the near-term resistance at 699.55, 1, dollars per ounce, the highest price since March 27.
Gold prices rose 2% on Friday after Chinese manufacturing data disappointing issued at a time, which boosted hopes that policymakers in Beijing may they undertake Thvezjdidh actions to promote growth in the second largest economy in the world.
Index procurement Mderer in China (HSBC) to its lowest level in 41 months at 47.6 in August from an initial reading of 47.8, new orders also fell in the face of weak global demand.
In Japan, government data showed earlier that capital spending rose less than expected in the second quarter, by 7.7% after increasing 3.3% in the previous quarter.
Analysts had expected an increase in capital spending by 8.9% in the second quarter.
The People's Bank of China cut both twice so far this year in a bid to boost lending and spur growth.
Cash incentives tend to benefit from gold, where yellow metal is seen as a safe store of value and a hedge against inflation.
Market awaits U.S. government data on non-farm payrolls on Friday, to see if the labor market has improved.
And track the movements in the price of gold this year largely to expectations about whether the U.S. central bank will pump more money into the financial system.
Gold rose 15% in earlier this year to 1790 dollars an ounce after that kept Federal Reserve Chairman interest rates in January near zero at least until late 2014 and indicated that it could provide a new round of asset purchases.
However, prices have fallen by 6% since late February, as the Fed failed to achieve more and easing amid fears of a worsening debt crisis in the euro zone, which has fueled demand for the precious metal and the U.S. dollar reserves.
Market awaits U.S. government data on non-farm payrolls on Friday, to see if the labor market has improved.
Elsewhere in the Comex silver rose, for December delivery rose 1.35% to trade at 31.86 Dolarellonsh, while copper for December delivery rose 0.7% to trade at $ 3.481 a pound.
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