investing in gold: Gold rose to the highest price in 12 weeks on Tuesday, as investors sought refuge from sharp losses in the oil market and amid growing speculation that the Federal Reserve will keep interest rates unchanged for the longest possible period.
On the Comex division of the New York Mercantile Exchange, gold delivery rose in February to its highest price at $ 1,244.30 per ounce, the highest price since October 23 / October, before trading at $ 1,241.60 per ounce during European morning trade, up by 8.80 or 0.71% .
On the previous day, the price of gold rose 16.70, or 1.37%, to close at $ 1,232.80 an ounce in heavy losses prompted investors in oil markets to resort to the traditional safe-haven assets.
And was likely to find support gold at $ 1,217.50 per ounce, the lowest since January 12 and resistance at $ 1,250.20 per ounce the highest price since October 22.
Oil prices continued to decline for the day Tuesday, trading near its lowest rate in six years amid ongoing concerns about the abundance of global supply, which led to the decline in prices.
In London, Brent oil fell 1.66, or 3.41%, to hit US $ 47.07 a barrel, while the decline p crude oil by 1.46. Or 3.16%, to close at $ 44.62 a barrel.
Gold remained supported after the latest report showed that jobs in the United States last week, a sudden drop in hourly wages, suggesting that the Fed may keep rates unchanged for a longer period.
The precious metal fell by 2% in 2014, amid signs that the strengthening of the economic recovery in the United States will force the Fed to start raising interest rates soon and sooner than previously thought.
The delay in raising interest rates to help the rise in gold, as it reduces the relative cost of the metal, which does not provide any compensation or guarantees to investors.
Also in the Comex, silver March delivery rose 9.45 cents, or 2.77%, to trade at $ 17.02 an ounce, the highest price since December 15.
Elsewhere in metals trading, copper March delivery fell 4.4 cents, or 1.6%, to trade at $ 2.682 a pound, after hitting a daily rate of $ 2,676 per pound, a price not seen in copper since October 2009 .
And failed to strong trade data from China, the largest consumer of copper in the world in promoting morale.
China recorded a trade surplus of $ 49.6 billion in December on a large scale and in line with expectations. And exports rebounded in December, rising by 9.7%, but imports rose less than expected by 2.4%, due to weak domestic demand.
According to the data, China imported 420 tons of copper in December, unchanged from November.
The dollar index, which measures the US currency against a basket of six major currencies, near its highest level in 12 years, supported by the differences in political outlook between the Fed and central banks in Europe and Japan.
Continued {{1 |} Euro under pressure amid speculation that the European Central Bank will performs more monetary easing as soon as possible during the next meeting January 22 / January Gold investing news