(+357) 22314160


Show news:

06.04.2015 17:40

Gold: а review of the market situation

Gold prices rose today, while reaching a seven-week high as weak US employment data led investors to revise their expectations about the timing of the Fed raising interest rates.

After the March meeting of the Fed officials made it clear that does not exclude the first interest rate increase in June, but they believe in September more likely. Minutes of the meeting of the American Central Bank from March 17-18, which will be released on Wednesday, may further clarify what is happening at the Fed, say market participants. It is worth emphasizing the delay in raising interest rates contribute to the demand for gold, as it reduces the relative cost of retaining the metal that guarantees investors a higher profit.

Recall, on Friday, the Ministry of Labor said the number of people employed in non-agricultural sectors of the economy grew at a seasonally adjusted up to 126 000 jobs in March. It was the weakest growth since December of 2013. The average monthly growth in the first quarter totaled 197,000, compared to an average 324,000 in the last three months of 2014. The unemployment rate, obtained from a separate household survey, remained unchanged at 5.5%. Economists had expected the number of employees will grow much stronger at 251,000 in March and predicted that the unemployment rate will be unchanged at 5.5% .Zarabotnaya board, meanwhile, grew at a moderate pace. The average hourly wage of workers in the private sector rose by 7 cents to $ 24.86 in March. Economists had expected growth of 0.2% of wages from February. Compared with a year earlier, hourly wages increased by 2.1% in March, roughly in line with the 2% annual rate in recent years.

Meanwhile, experts note that the increase in gold prices also helped to technical buying after overcoming the mark of $ 1,200 per ounce.

Had little effect as today's data from the ISM. As it became known, in March, the index of business activity in the US service sector, which is calculated by the Institute for Supply Management (ISM), worsened slightly, reaching 56.5 at the same level as compared with the February reading at the level of 56.9. According to experts, the value of this index was down to 56.6. In general, the sub-indices showed themselves as follows: the price index in the non-manufacturing sector in March rose to 52.4 vs. 49.7, the index of business activity in the non-manufacturing sector fell to 57.5 from 59.4, the employment index in the non-manufacturing sector rose to 56.6 from 56.4, while the index of new orders in the non-manufacturing sector rose to 57.8 against 56.7 in February

The cost of the June gold futures on the COMEX today rose to 1218.30 dollars per ounce.

Market Focus

January 2018
  • 2018
  • 2017
  • 2016
  • 2015
  • 2014
  • 2013
  • 2012
  • 2011
  • 2010
  • 2009
  • 2008
  • 2007
  • 2006
  • 2005
  • 2004
  • 2003
  • 2002


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.

To maximize our visitors browsing experience TeleTrade uses cookies in our web services. By continuing to browse this site you agree to our use of cookies. If you disagree, you may change your browser settings at any time. Read more

Fb twitter linkedIn youtube
proficient forex broker teletrade
  • © 2011-2018 TeleTrade-DJ International Consulting Ltd

    TeleTrade-DJ International Consulting Ltd is registered as a Cyprus Investment Firm (CIF) under registration number HE272810 and licensed by the Cyprus Securities and Exchange Commission (CySEC) under license number 158/11.

    The company operates in accordance with Markets in Financial Instruments Directive (MiFID).

  • The information on this website is for informational purposes only. All the services and information provided have been obtained from sources deemed to be reliable. TeleTrade-DJ International Consulting Ltd ("TeleTrade") and/or any third-party information providers provide the services and information without warranty of any kind. By using this information and services you agree that under no circumstances shall TeleTrade have any liability to any person or entity for any loss or damage in whole or part caused by reliance on such information and services.

  • TeleTrade cooperates with SafeCharge Limited, which is an electronic money institution authorized and regulated by the Central Bank of Cyprus and is a principal member of MasterCard Europe and Visa Europe. We also cooperate with Moneybookers and Neteller, which offer electronic e-wallet services authorized and regulated by the Financial Conduct Authority.

    Please read our full Terms of Use.

  • To maximize our visitors browsing experience TeleTrade uses cookies in our web services. By continuing to browse this site you agree to our use of cookies. If you disagree, you may change your browser settings at any time. Read more

    TeleTrade-DJ International Consulting Ltd currently does not provide its services to residents or nationals of the USA, and also doesn't provide retail Forex and CFD accounts to residents or nationals of Belgium.

Connect with Us
Share on
social networks
Request a callback
Top Page