Monday, August 24, 2015
investing in gold : Gold at its highest level in seven weeks amid concerns over China
investing in gold : Gold prices fell slightly but remained near its highest level in nearly seven weeks on Monday where pushed concerns about slowing Chinese economy, investors' aversion to assets that involve risks and direction to the assets that they see a safe haven.
Asian stocks fell to their lowest level in three years, while the dollar prices of industrial goods from copper to oil fell to its lowest level since 2009.
And the decline in the spot price of gold contracts 0.6 percent to $ 1153.20 an ounce ounce by 0638 GMT, after reaching the highest level during the day at $ 1165.11 an ounce in early trading. But the decline in the yellow metal was limited compared to crude oil, which fell 3.2 percent from the US and copper, which fell two percent.
Gold rose to 1168.40 on Friday, its highest level since the seventh of July, after increasing more than four percent last week, the highest increase since mid-January.
Chinese stocks registered a sharp decline on Monday stood at nine percent and the Shanghai index lost all the gains made during the year due to investor frustration of Beijing for the expected decline in support for the policy of the weekend after the market lost 11 percent last week.
Japanese stocks fell about five percent.
And the decline in the price of US gold futures December delivery 0.5 percent to $ 1153.80 an ounce.
Amid the decline of industrial goods fell in the spot price of palladium contracts 2.1 percent to $ 589 an ounce, while platinum fell 0.7 percent to $ 1011 per ounce and silver fell 1.4 percent to $ 15.09.
