According to the auction, the December futures for gold on the new York stock exchange Comex rose in price to 1157,50 USD per Troy ounce amid uncertainty among investors about the timing of a rate hike.
MOSCOW, 9 Oct. Gold prices rise on Friday, as it published the minutes of its September meeting the fed has increased the uncertainty among investors about the timing of raising interest rates in the country, according to AFP.
As at 18.05 GMT December futures for gold on the new York stock exchange Comex rose in price by 13.2 million, or 1.15% to 1157,50 dollars per Troy ounce. The cost of December futures for silver has grown on 0,56% — to 15,86 USD per ounce.
Gold prices fell to a five-year low in July on expectations that the fed will soon raise interest rates, but soon switched to growth amid expectations that the volatility in emerging markets will force the regulator to refrain from raising rates. Higher interest rates are expected to put pressure on gold prices.
The U.S. Federal reserve in the minutes of its September meeting among the reasons for not increasing the rate of call of the uncertainty regarding the state of the global economy. In addition, the reason for the failure to raise rates in September became low inflation in the United States. This has strengthened the hopes of investors that the regulator may postpone the start of monetary policy tightening in the US until 2016.
“Comments showed that the rate increase this year can not wait”, — told the newspaper The Wall Street Journal, senior commodities broker, RJO Futures Bob Haberkorn (Bob Haberkorn).