According to the auction, the December futures for gold on the new York stock exchange Comex rose in price to 1161,50 dollars per Troy ounce on expectations that the fed will postpone raising interest rates.
MOSCOW, 12 Oct. Gold prices rise on Monday on expectations that the fed will postpone raising interest rates, according to AFP.
As of 18.02 MSK December futures for gold on the new York stock exchange Comex rose in price by 5.6 million, or 0.48%, to 1161,50 dollars per Troy ounce. The cost of December futures for silver has grown on 0,39% — to $ 15.88 per ounce.
Gold prices fell to a five-year low in July on expectations that the fed will soon raise interest rates, but in September the regulator has kept them at the same level. Later, gold prices have moved to increase 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.
“With the increase in prices in the last two weeks the technical picture of gold seen recovering”, — quotes The Wall Street Journal to the words of analysts at Commerzbank.