Gold rises ahead of US Federal speech


Gold futures rose in the spot trading, on Monday, influenced by rising Indian Allowadarat of gold to about $ 34 billion during 2015, in anticipation of the meeting of the US Federal Reserve.

Gold rose in the spot trading by 12:15 (GMT) for $ 3.05 to $ 1181.17 an ounce.

Said the Ministry of Commerce of India, on Monday, it said that gold imports rose 19.5 percent to 34.32 billion dollars in the fiscal year 2014-2015.

And trimmed the dollar index, which tracks the US currency’s performance, compared to a group of six major currencies, from early gains of up to 95.655, after rising in morning trading to 95.780.

European stocks rose indicators, during trading Monday, and by at 12:13 (GMT) German FTSE index rose by 0.36% to 6985.95 points, rising German DAX index by about 169.21 points, to the level of 11623.59 points, up France’s CAC 40 60.09 points, falling back to 5106.58 points.

The price of gold has fallen to the closure, on Friday, to $ 1178.12, after weak euro zone economic data during the appearance, last week.

And increasing pressure on gold amid uncertainty about the timing of the start of raising US interest rates, and while heading to market expectations in June, and strengthened the weak economic data in recent speculation that the central bank may raise interest postponed to September 2015.

The markets are looking to the release of US data on Monday, on factory orders, and is expected to rise up to 2.4% in March, after rising by 0.2% in February.

Investors are watching closely the results of speech “Charles Evans”, the ninth president of the Federal Bank of the US state of Chicago, and is a member of the Federal Reserve of America, to talk about the monetary policy of the Bank to try to reach to make an appointment to raise interest rates, for the first time since June 2006.

On the other hand, metals, silver prices rose by 0.97% to $ 16.2770 an ounce. The price of copper rose by 1.56% to $ 2.9315 a pound.

Palladium prices rose to $ 2.66 to $ 772.63, and platinum prices have risen about $ 1.1 to $ 1129.09.

You must be logged into post a comment.