Tuesday, May 5, 2015
investing in gold : Gold rises but stays below $ 1,200 per ounce in thin trading
investing in gold : Gold prices rose during Tuesday's trading, but remained below the level of $ 1,200 an ounce, as investors awaited the release of reports of non-farm payrolls for the month of April next from the United States and in search of new evidence on the strength of the economy and the timing of the lifting of US interest rate.It was likely that the jobs report adds to the strong non-farm speculation about the start date of the Federal Reserve to raise interest rates, while the decline in the numbers reinforces the Asaralzhb by weakening the argument for a rate hike in early.On the Comex division of the New York Mercantile Exchange, gold June delivery rose 60 cents, or the equivalent of 0.05%, to trade at $ 1,187.40 per ounce during European morning trade, as gold traded in a narrow range between 1,185.00 and $ 1,189.30 range per ounce.The previous day, gold rose 12.30, or the equivalent of 1.05%, to close at $ 1,186.80 an ounce, and was likely to find support gold at $ 1,168.40 per ounce, its lowest price since May 1 and resistance at $ 1,207.40 per ounce the highest price since April 30.Also in on the Comex, silver delivery in July fell 3.8 cents, or the equivalent of 0.23%, to trade at $ 16.40 an ounce, and during yesterday's trading Monday futures for silver rose 30.6 cents, or the equivalent of 1.9%, to close at 16.44 dollars per ounce.As the US dollar index, which measures the strength of the dollar against a basket of six major currencies, rose 0.25% to trade at 95.83 on Tuesday morning.The dollar regained some ground, amid signs that the US economy is heading towards stability after the recent wave of weakness.And reduced US economic data disappointing optimism about the recovery, prompting speculation that the Fed may Aakhrrf interest rates for a long time until late 2015, instead of a mid-year monetary stimulus.And the Federal Reserve said in a statement the interest rate in the last week that recent indicators about a slowdown in growth may have been due to "temporary factors."Elsewhere in the metals trade, copper delivery in July rose 0.8 cents, or the equivalent of 0.26%, to trade at $ 2.913 a pound, and prices fell by 0.9 cents, or equivalent to 0.38%, on Monday to settle at $ 2,920 a pound.The data showed that manufacturing activity in the private sector of the Chinese shrank at its fastest pace in a year in April / May as new orders fell. The data added to fears of a slowdown in the second largest economy in the world.And remained limited losses amid speculation that policy makers in China may be forced to hold more monetary stimulus to move the economy in light of lackluster growth.
