FX & CFD trading involves significant risk
Gold prices rose today, while still achieving maximum protection, helped by the data provided by the United States. As shown by a report from the Ministry of Labour, the consumer price index rose 0.7 percent in February after he remained at a minimum level in the previous three months. Economists had expected the consumer price index increased by 0.4 percent. The inflation rate in the measurement of the maximum monthly from June 2009. Meanwhile, the core consumer price index, which excludes food and energy, rose 0.2 percent in February after increasing 0.3 percent in January. Increase in price corresponds to the estimates of economists. In addition, note that the price increase has occurred in consequence of a sharp rise in energy prices, which have jumped in February to 5.4%, while food prices rose only 0.1%.
We also add that given that the figure was within the acceptable range for the Fed, it is assumed no further action, as it is just a natural by-product of monetary easing.
Note that the precious metal reached $ 1,597 after the data, but failed to break through the barrier of $ 1600. Now prices have settled in USD $ 1595, also received support from the decline of the dollar index.
April futures price of gold on COMEX has increased, and now stands at 1595.40 dollars per ounce.
All posted material is a marketing communication solely for informational purposes and reliance on this may lead to loss. Past performance is not a reliable indicator of future results. Please read our full disclaimer.