Gold futures edge higher amid dollar weakness

Gold futures edge higher amid dollar weakness


According to the auction, the December futures for gold on the new York stock exchange Comex rose in price to 1167,1 dollars per Troy ounce on the background of the depreciation of the dollar against foreign currencies.

MOSCOW, 26 Jan. Gold prices are rising on Monday evening with the decline of the dollar against world currencies ahead of the fed decision on U.S. base rate, according to AFP.

As at 18.06 GMT December futures for gold on the new York stock exchange Comex rose in price by 4.2 million, or 0.37%, to 1167,1 dollars per Troy ounce. The cost of December futures for silver has grown on 0,52% — to 15,91 USD per ounce.

The dollar index (the dollar against a basket of currencies of six major U.S. trading partners) was down by 0.22% to 96,88 points. This week investors ‘ attention is riveted on the fed: on Wednesday, the regulator will announce its decision on the base rate. Analysts believe that the beginning of tightening of monetary policy, the regulator would postpone until 2016.

“We maintain a constructive Outlook on gold, but we also recognize that it is unlikely that metal found an easy way. Fluctuations in market expectations with regard to decisions of the fed are likely to continue to influence the price of gold”, — quotes Agency MarketWatch words of UBS analyst Joni Tevez (Joni Teves).