investing in gold: Gold futures rose near the highest price in two weeks during Monday's trading, with traders continuing to monitor the direction of the dollar as investors try to digest the latest wave of US economic data in their quest to measure the attractiveness of the precious metal.
On the Comex division of the New York Mercantile Exchange, gold delivery in April rose 1.40 cents, or equivalent to 0.12%, to trade at $ 1,214.60 per ounce during US morning trading, after the highest price recorded during the day of $ 1,223.00 per ounce, a the highest price since February 17.
The futures are likely to find support at $ 1,204.10 per ounce, the lowest price since February 27 and resistance at 1,263.70 highest price since February 17.
At the same time, silver May delivery rose 6.5 cents, or equivalent to 0.39%, to trade at $ 16.62 per ounce.
The Commerce Department said that personal spending fell by 0.2% in January, worse than expectations for a 0.1% decline from following a drop of 0.3% in December / December
This was the first decline in consumer spending since early 2009
The report also showed that personal income rose 0.3% in January, below expectations for a 0.4% increase.
At the same time, the core personal consumption expenditures price index rose 0.1% in January, in line with expectations, after staying unchanged in December / December Rose core personal consumption expenditures price index annual rate of 1.3%, surpassing expectations that were looking forward to 1.2%, after rising 1.3% in December / December
It uses the Fed's key indicator of consumer spending as a tool to help determine whether to raise or lower interest rates, in order to keep inflation at a rate close to or less than 2%.
And remained the dollar index, which measures the strength of the dollar against a basket of six major currencies, was little changed at 95.26, after recording the highest in a single month by 95.54 earlier.
Gold found support in reaction of investors to reduce China's interest rate over the weekend.
The low interest gives rise to gold prices, it also reduces the relative cost of the contract for the metal, which does not provide any guarantees or alternatives for investors.
The People's Bank of China cut its benchmark interest rate by a quarter percentage point to 5.35% on Saturday in a bid to boost growth and avoid deflation in the second largest economy in the world.
It is the second interest rate cut in less than four months, pointing out that Beijing has become more aggressive in supporting the economy with slowing momentum and a high risk of deflation.
And expectations of monetary stimulus tend to benefit gold, and the metal is considered a safe store of value and hedge against inflation.
Elsewhere in the COMEX, copper retreat May delivery rose 0.5 cents, or equivalent to 0.19%, to trade at $ 2.687 a pound after the highest level recorded in the session by $ 2,716 a pound, 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 which was released earlier in the index to 50.7, when the index reading above 50.1.
In contrast, the record manufacturing PMI in China on Sunday, 49.9 in February, just above expectations for a reading of 49.7, up slightly from the lowest level in two years, from 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. Gold investing news