December futures for gold on the new York stock exchange Comex rose in price by 2,90 USD or 0.27%, to 1091,40 dollars per Troy ounce. The cost of December futures for silver has grown on 0,62% – to 14,45 USD per ounce.
MOSCOW, 11 Nov. Gold prices on Wednesday grow using the reduction of the value of the U.S. currency, according to AFP.
As at 07.28 MSC, December futures for gold on the new York stock exchange Comex rose in price by 2,90 USD or 0.27%, to 1091,40 dollars per Troy ounce. The cost of December futures for silver has grown on 0,62% — to 14,45 USD per ounce.
The dollar index (the dollar against a basket of six currencies of countries — major U.S. trading partners) decreased by 0.34% to 98,86 item. Gold is traded in dollars, becomes cheaper for investors holding foreign currency, which occupies the stronger position.
Later on Wednesday, the National Bureau of statistics of China will publish data on retail sales and industrial production in the country during October. Polled by Reuters, experts expect that sales in annual terms rose by 10.9% on a monthly — by 10.6%, against a growth of 10.5% in September. The indicator on the volume of industrial production is expected to average 5.8% yoy and 6.2% in 10 months.
The weak performance statistics reinforce concerns among investors about the prospects of China’s economy. In addition, data may influence the fed’s decision regarding the timing of a rate hike in the country. Still, the regulator refused to raise rates because of uncertainty about the state of the global economy. The negative effects of the economic slowdown of China and emerging markets can put pressure on the U.S. economy, noted the regulator.