Gold slightly rises in price on news from USA

Gold slightly rises in price on news from USA


Real GDP growth in the third quarter of 2015, according to preliminary estimates, amounted to 1.5% in annual terms. Amid these reports of the December futures for gold on the new York stock exchange Comex rose in price for 0,7 $ per Troy ounce.

MOSCOW, 30 Oct. Gold prices are showing a slight positive trend after weak data on U.S. GDP for the third quarter that increased the demand for more reliable assets, according to AFP.

As at 08.55 GMT December futures for gold on the new York stock exchange Comex rose in price by 0.7 million, or 0.06%, to 1179,90 dollars per Troy ounce. The cost of December futures for silver grew by 0.42% to 15.62 per ounce.

On Thursday it became known that the real GDP growth in the third quarter of 2015, according to the first estimate, amounted to 1.5% in annual terms. The data were worse than forecasts of analysts, who had expected GDP growth of 1.6%. In the second quarter the growth amounted to 3.9%.

At the same time the pressure on the cost of the metal continue to provide statements of the U.S. Federal reserve, which once again kept its base rate at a minimum level of 0-0. 25%, as analysts expected. The fed did not rule out a rate hike in December, depending on employment and inflation. Speaking of the economy, the regulator has called the growing “moderate” pace.

“The prospect of tighter monetary policy in the US contributes to the strengthening of the dollar and against this background we expect that the price of gold and silver may fall”, — quotes Reuters the opinion of the analysts of Societe Generale.