Monday, August 17, 2015
investing in gold : Gold rises with continued fears of a devaluation of the Chinese yuan
investing in gold : Gold rose on Monday, upping gains made last week, which is the largest in three months as a result of the continuing concern about the consequences of reducing the value of China's currency.
And prompted concerns about China's gold to climb to the highest level since mid-July at $ 1236.30 the ounce last week in the wake of China's devaluation of its currency.
Analysts predicted that the weakness of the Chinese economy holds the Federal Reserve (the US central bank) to postpone raising interest rates, which had been expected in the next month.
And led hike expectations - that raise the cost of holding gold because of the rise of the dollar value of the prices - to drop the yellow metal to its lowest level in five and a half years at a level of $ 1077 in late July.
Gold rose 0.3 percent in the spot transactions to $ 1116.55 an ounce by 1106 GMT.
Gold rose in the US decades December delivery of $ 3.20 to 1115.90 an ounce.
And went up the spot price of alfalfa 0.1 percent to $ 15.23 an ounce.
Platinum settled at $ 989.25 an ounce, while there has been no change in the price of palladium at $ 615.40 an ounce.
