FX & CFD trading involves significant risk
Gold prices rose slightly today , which was associated with strong U.S. employment data , which was presented at last week's sharp fall in Chinese exports , as well as the persistence of tensions in Ukraine.
Recall that the precious metal fell 0.8 percent on Friday after data showed that the U.S. had created 175,000 jobs , which was higher than expected , and increased chance to continue to reduce QE by the Federal Reserve System.
Meanwhile, experts say that current concerns about the confrontation in Ukraine are one factor in the growth of metal prices .
Investors in the global markets pessimistic about the data published recently in the second largest economy in the world . Report released at the weekend showed a sharp drop in exports, while other data showed the weakening of the manufacturing sector and a sharp slowdown in inflation. Anxiety can also be observed in the financial sector after the country on Friday was a first corporate default.
Also note that hedge funds and money managers increased their "bullish" position in gold futures and options in the fourth consecutive week , as geopolitical tensions increased speculative interest in gold, and contributed to the rise in prices to their highest level in more than a year .
The data also showed that the gold reserves in the SPDR Gold Trust rose 1.5 tonnes on Friday , recording their first inflow since February 25.
The cost of the April gold futures on the COMEX today rose to $ 1342.70 per ounce.
|remaining time till the new event being published|
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.