Gold futures edge higher amid declining dollar

Gold futures edge higher amid declining dollar

The dollar began to decline after amid uncertainties in the global economy the US fed refused to raise rates.

MOSCOW, 9 Oct. Gold prices rise on Friday after published the minutes of its September meeting, the fed contributed to the decline of the dollar, according to AFP.

As at 08.23 GMT December futures for gold on the new York stock exchange Comex rose in price by 2.3 per dollar, or 0.19% to 1143,9 dollars per Troy ounce. The cost of December futures for silver declined by 0.04% to 15,76 USD per ounce.

The dollar index (the dollar against a basket of currencies of six major U.S. trading partners) is lowered by 0.09% to 95,21 paragraph after the U.S. Federal reserve in the minutes of its September meeting among the reasons for not increasing the rate of call of the uncertainty regarding the state of the global economy. This has strengthened the hopes of investors that the regulator may postpone the start of monetary policy tightening in the US until 2016.

“We continue to expect the fed rate hike in December, but it should be noted that the statistics in the United States has deteriorated since the last meeting, and therefore there is a risk that some members of the regulator, who spoke for the rate increase can change your point of view,” he told Reuters, CIBC World Markets economist Andrew Grantham (Andrew Grantham).