Gold fluctuates in price on profit-taking and data from China

Gold fluctuates in price on profit-taking and data from China


According to the auction, the December futures for gold on the new York stock exchange Comex rose in price to 1165,30 USD per Troy ounce amid profit taking by investors.

MOSCOW, 13 Oct. Gold prices fluctuate on Tuesday on a wave of profit taking by investors after the rising cost of metal before, and also due to weak statistics from China, according to AFP.

As at 17.06 GMT December futures for gold on the new York stock exchange Comex rose in price by 0.8 million, or 0.07%, to 1165,30 dollars per Troy ounce. The cost of December futures for silver has grown on 0,51% — to 15,95 USD per ounce.

On Tuesday it became known that exports in September declined by 3.7% and imports fell by 20.4% in annual terms. As a result, the trade surplus of the country last month was 60,34 billion. Analysts had expected the decline in exports by 6.3%, import — by 15%, and predicted trade surplus at the level 46,79 billion.

Gold prices grew on Monday amid hopes that volatility in emerging markets will force U.S. regulators to reject rate hikes. Higher interest rates are expected to put pressure on gold prices. On Tuesday, the investors decided to take profits, which resulted in a decrease in the value of the metal.

“Today we see profit-taking of speculative financial investors,” the newspaper cites The Wall Street Journal called experts said Commerzbank.