According to the auction, the December futures for gold on the new York stock exchange Comex rose in price to 1183,50 USD per Troy ounce amid slight strengthening of the American currency to the world.
MOSCOW, 15 Oct. Gold prices slowed down in the course of trading Thursday amid a slight strengthening of the American currency to the world, according to AFP.
As at 17.38 GMT December futures for gold on the new York stock exchange Comex rose in price by 3.7 million, or 0.31%, to 1183,50 dollars per Troy ounce. In the course of trading environment it broke the mark in 1176,20 USD per ounce — the highest since June 30. The cost of December futures for silver fell by 0.04% to 16,11 USD per ounce.
The dollar began weakly to strengthen against world currencies after the publication of the U.S. Department of labour data on inflation in the country for September and the number of weekly applications for unemployment benefits. These statistics surpassed analysts ‘ expectations, which led to dollar growth. So, gold is traded in dollars, becomes more expensive for investors holding weaker foreign currencies.
“In the last couple of days gold has strengthened on the expectation of postponement of the fed rate hike due to weak data. Today’s data were not as weak as expected, so there is a feeling that we may have jumped the gun”, — quotes Reuters analyst ABN Amro bule Georgette (Georgette Boele).