investing in gold: Oscillated gold futures between small gains and losses on Monday, as traders will re-evaluate their expectations for the timing of the lifting of US interest rates and amid growing concerns about the future of Greece in the euro zone.
On the Comex division of the New York Mercantile Exchange, gold delivery in April rose 40 cents, or 0.03%, to trade at $ 1,279.60 per ounce during European trading this morning. The prices traded in a narrow range between $ 1,279.20 per ounce and $ 1,283.90 an ounce.
And was likely to find support gold at $ 1,252.10 per ounce, the lowest price since January 29 and resistance at $ 1,298.60 per ounce the highest price since 27 December / January
On Friday, gold rose 23.30 cents, or equivalent to 1.86%, to close at $ 1,279.20 an ounce, after data showed the US economy grew less than expected in the fourth quarter.
Gold prices ended in January, up trading at 20.94 cents, or equivalent to 7.96%, as investors sought a safe haven because of volatility in global financial markets.
Also in the Comex, silver March delivery fell 6.8 cents, or the equivalent of 0.4%, to trade at $ 17.14 an ounce. Silver rose 43.5 cents, or 2.59%, to close at 17.20 on Friday. Silver prices rose to $ 1.47 or the equivalent of 10.31% in January / January
In a report by the Ministry of Commerce said on Friday that the economy grew 2.6% in the last three months of 2014, below expectations for a gain of 3.0% and there was a sharp slowdown from growth of 5.0% in the three months to September / September
Later in the day, the US was to publish a report on personal income and spending, as investors awaited further indications on the strength of the economy. The Institute for Supply Management will also publish data on manufacturing activity.
At the same time, the new Greek government said it would not cooperate with the International Monetary Fund and the European Union will seek to extend its bailout program, which confirms the fears of a clash with the international creditors.
Elsewhere in metals trading, copper March delivery fell 0.1 cents, or 0.05%, to trade at $ 2.494 a pound amid growing concerns about the health of the Chinese economy.
Showed data released earlier in the final purchasing managers' index in China dropped down to 49.7 in January from the initial reading of $ 49.8. Analysts had expected the index remains unchanged.
During the weekend, government data showed that manufacturing PMI for China 'index fell to its lowest level in two years by 49.8 in January, below expectations for a reading of 50.2 and down from 50.1 in December / December
The index fell for the first time since September 2012, which has increased the pressure on decision-makers to stimulate the faltering economy.
Asian nation is the largest consumer of copper in the world, and formed 40% of global consumption last year.
Red metal fell 33.1 cents, or 11.72% in January as concerns about the global economic outlook and its impact on future demand forecasts, which reduced the appeal of commodities. Gold investing news