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24.12.2013 16:20

The price of gold is growing moderately

Gold prices held near $ 1,200 , showing a slight increase after a report on orders for durable goods in the U.S. increased the appeal of gold as a safe asset.

Last week, the price dropped to a six-month low of $ 1.185,10 an ounce, after the Fed announced a reduction incentive program . From the beginning, gold fell by nearly 30 percent a year and can complete a maximum decline in 32 years .

Recent data from the Ministry of Commerce showed that demand for durable goods increased significantly in the last month , surpassing forecasts while . Experts point out that with the growth of business investment at the fastest pace since January , the latest report is a sign of renewed confidence among companies.

According to the report , orders for U.S. durable goods rose 3.5 percent last month , while offsetting the decline of 0.7 per cent , which was recorded in October. Excluding transportation , orders for durable goods rose 1.2 percent , showing the largest increase since May of this year. According to the average forecast of economists , total orders had increased by only 1.7 percent, compared with a decline of 1.6 percent in October , which was originally reported. As for orders excluding transportation , they are estimated to have been up by 0.9 percent, after rising 0.7 percent in October (initially reported drop of 0.1 percent) .

Stocks of the world's largest exchange-traded fund backed by gold (ETF) SPDR Gold Trust on Monday fell by 8.4 tonnes to 805.72 tonnes - the minimum level in nearly five years.

Surcharge gold 99.99 percent purity on the Shanghai Futures Exchange on Tuesday rose to $ 20 per ounce to $ 16 on Monday, pointing to the increase in demand at the price falls below $ 1,200 .

Cost February gold futures on the COMEX today rose to $ 1202.30 per ounce.

24.12.2013 16:40

Oil rose

Market Focus

  • The Bank of Japan decided by a 7-2 majority vote to hold the interest rate at -0.10%
  • Earnings Season in U.S.: Major Reports of the Week
  • U.S. commercial crude oil inventories decreased by 4.7 million barrels from the previous week
  • Australian unemployment rate stable at 5.6% in June
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