According to the trades, as at 8.44 GMT December futures for gold on the new York stock exchange Comex rose in price by 3.9 per dollar to 1150,3 dollars per Troy ounce.
MOSCOW, 7 Oct. Gold futures edge higher on Wednesday amid expectations of market participants that the Federal reserve system (FRS) the USA will postpone raising interest rates amid downbeat data and the deterioration of the macroeconomic situation, according to AFP.
As at 8.44 GMT December futures for gold on the new York stock exchange Comex rose in price by 3.9 million, or 0.34% to 1150,3 dollars per Troy ounce. The cost of December futures for silver fell by 0.28% to 15.94 per ounce.
According to the Bureau of economic analysis U.S. Department of Commerce, the trade deficit of the country in August increased by 6.5 billion us dollars and amounted to 48.3 billion. Many analysts believed that the index will grow by 5.5 billion dollars, to 47.4 billion. The growth in the deficit amid falling exports complicates matters for the fed because the rate increase will strengthen the American currency, only adding to pressure on exports.
In addition, the international monetary Fund (IMF) lowered its forecast for global GDP growth for 2015 and 2016 by 0.2 percentage points to 3.1% and 3.6% respectively. The Fund explained the decision by lower raw material prices and structural problems, the slowdown in China (to 6.8% in 2015) and geopolitical factors.
According to a strategist at IG Asia Pte in Singapore Bernard AU (Bernard Aw), whose words leads the Agency France Presse, the probability of a rate hike fell after the IMF lowered forecasts the company of the world’s GDP. The expert indicated that the Foundation wants to achieve from the fed’s delay in raising interest rates until next year.