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investing in gold: Gold rose to the highest price in the session on Wednesday, after data showed that retail sales in the United States fell more than expected in December which reduced the feelings of optimism about the strength of the economic recovery.
On the Comex division of the New York Mercantile Exchange, gold delivery rose in February by 2.90 Eu 0.23%, to trade at $ 1,237.40 per ounce during morning trading in the United States, and prices traded in a range between 1,225.40 and $ 1,239.90 per ounce.
On the previous day, gold record of $ 1,244.50 per ounce, the highest price since October 23 before settling at $ 1,234.40 per ounce, up by 1.60, or 0.13%.
And was likely to find support gold at $ 1,217.50 per ounce, the lowest price since January 12 and resistance at $ 1,244.50 per ounce, the highest price since January 13.
Also pardoned COMEX, March Alvdhtzlam fell 8.25, or 1.5%, to Attdaol at $ 16.89 per ounce after the lowest price recorded in the session of $ 16.56 per ounce.
The US Commerce Department said that retail sales fell by a seasonally adjusted 0.9% last month, worse than expectations for a decline of 0.1%.
And the associated rise in retail sales with the passage of time, strong economic growth, while sales weakness refers to a decline in the economy.
Fell core retail sales, which exclude automobile sales, rose a seasonally adjusted 1.0% in December, disappointing expectations that were looking forward to a rise of 0.1%.
Core sales correspond closely with the consumer spending of the GDP report to the government. The consumer spending accounts 70% of the growth of the US economy.
And reduced the disappointing data Manaltfaal about the strength of the economy, also lowered expectations for the start of the Federal Reserve to raise interest rates sooner than previously thought ..
The delay in raising interest rates lead to higher gold, as it reduces the relative cost of the contract to the metal, which does not offer any guarantees or compensation to investors.
The dollar index, which measures the US currency against a basket of six major currencies, was up 0.45% to hit 92.03, rebounding from its highest level in 12 years by 92.76 hit last week.
Elsewhere in the metals trade, Rajaalnhac March delivery rose 7.9%, the lowest level in the session by $ 2,434 a pound, a level not seen in copper since June 2009, before trading at $ 2,524 a pound, down by 12.0 cents, or 4.53%.
At the same time, oil prices continued to fall on Wednesday to reach in six years near the lowest level, with continued concerns about the global supply glut that led to the decline in prices.
In London, Brent oil fell 91 cents Bnsphar or 1.89%, to hit $ 46.92 a barrel, while the decline in crude oil fell 62 cents, or 1.36%, to close at $ 45.27 a barrel.
The World Bank cut its forecast for global growth to 3.0% this year from an earlier estimate of 3.4%, indicating that the growth record results less than expected in the euro area, Japan and some of the major emerging economies.
The bank also cut its forecast for global economic growth for 2016 to 3.3% from 3.5%.
Copper is more sensitive to expectations of economic growth because of its uses is widely across industries. Gold investing news