investing in gold: Gold traded slightly from its highest level in two weeks less during Monday's trading, corded investor reaction to the interest rate cut in China at the weekend.
Cut interest rates to lift the gold may lead, it also reduces the relative cost of the contract for the metal, which does not provide any guarantees or alternatives for investors.
On the Comex division of the New York Mercantile Exchange, gold delivery in April rose 4.60 cents, or equivalent to 0.38%, to trade at $ 1,217.70 a troy ounce during European morning trade, after hitting during the day to a high of $ 1,223.00 per ounce, a the highest price since February 17.
On Friday, gold rose by 3.00, or the equivalent of 0.25%, to close at $ 1,213.10 per ounce.
The futures are likely to find support at $ 1,204.10 per ounce, the lowest price since February 27, and the near-term resistance at $ 1,236.70 per ounce, the highest price since February 17.
At the same time silver May delivery rose 13.9 cents, or equivalent to 0.84%, to trade at $ 16.69 an ounce.
The People's Bank of China cut its benchmark interest rate by a quarter percentage point to 5.35% during the weekend in a bid to boost growth and avoid deflation in the second largest economy in the world.
The final manufacturing rose for the month of February index, which was released earlier to 50.7, the index reading above 50.1.
In contrast, the record manufacturing PMI in China which was published on Sunday 49.9 in February, just above expectations for a reading of 49.7, up slightly from the lowest level in two years, amounting to 49.8 in January / January
Usually Maatmal monetary stimulus to benefit from expectations of gold, and the metal is considered a safe store of value and hedge against inflation.
And precious metal prices remained Mdaumo remained, as traders reduced their expectations for the timing of the first to raise US interest rates after comments made by the president of the Federal Reserve Janet Yellen last week.
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 provide any guarantees or alternatives for investors.
Later in the day investors awaited a report from the Institute for Supply Management on US manufacturing activity in the United States, in search of other indicators on the strength of the economy.
Elsewhere in the COMEX, copper rose May delivery by 1.1 cents, or equivalent to 0.42%, to trade at $ 2.703 a pound after touching its highest level in the session at $ 2,716 per ounce, the highest price since January 13 .
And drawing a pair of manufacturing reports issued during the past two days, a mixed picture of the health of the manufacturing sector in China.
The final manufacturing rose for the month of February index, which was released earlier to 50.7, the index reading above 50.1.
In contrast, the record manufacturing PMI in China which was published on Sunday 49.9 in February, just above expectations for a reading of 49.7, up slightly from the lowest level in two years, amounting to 49.8 in January / January
She mixed data more pressure on policy 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.
At the same time, the trade-weighted basket of currencies from the dollar index rose by 0.15% to hit 95.44, its highest level since 2003. Gold investing news