Gold futures traded near the maximum of the day at $ 1.600 against the backdrop of the fact that the published data on the U.S. showed mixed performance, and therefore increases the likelihood of further stimulus measures of monetary policy.
Trading in gold today, showed a mixed trend. At the beginning of the prices have fallen sharply, while updating yesterday's low, as was noted a weak physical demand for the metal. Trade organizations claim that the purchase of importers in India have fallen, as a weak local currency keeps the price of gold to almost record levels. The trend changed after the United States submitted their data, which helped increase the value of precious metals higher than yesterday's maximum values. Some investors buy gold as a hedge against rising prices.
It is learned that consumer prices in the U.S. remained unchanged in July, while the index of activity in the manufacturing sector from the Federal Reserve Bank of New York has fallen below zero to the level of -5.9. At the same time, industrial production showed an increase of 0.6% in July.
The slowdown in the world and in the U.S. spurred speculation that the Fed will increase the liquidity in the financial system, which may cause the weakening U.S. dollar and attract investors seeking to hedge against inflation with precious metals.
But the central bank continues to delay carrying out such measures, often continuing to disappoint those who put on the increase in the value of precious metals.
The cost of the August gold futures on the COMEX today reached a low of 1592.0 dollars per ounce, set up after the session and is now trading at around 1602.8 dollars per ounce.
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