investing in gold : Gold futures remained close to the trading price in more than five and a half years on Wednesday after the release of the housing market data in the United States. The contract has recorded the lowest rate since 2010 earlier in the day, and that with the increasing expectations for higher interest rates next month, and with the markets wait for the minutes of the Fed meeting decision issued Tuesday evening.
On the Comex division of the New York Mercantile Exchange, gold futures recorded December / December delivery lowest price since the month of February 2010 earlier in the day, when it fell to 1062.00, before recovering to 1067.60 during then to fall by 0.09%, or the equivalent of $ 1.00 an ounce.
The Gold futures have lost more than 10% of its value on October / October 28 since the day of the latest Fed meeting, after the rise in expectations of a rate hike next month strongly in light of the results of that meeting. It is supposed to cause expectations for higher interest rates in promoting downward trend for gold, where it will push the precious metal to compete to get investors' money with revenue rising rate hike assets.
For the same reasons the US dollar index contracts recorded its highest level in more than seven months after it went on the dollar gains against other major currencies amid growing expectations Baqterp raise interest rates on the dollar.
The gold has ended yesterday's trading on the decline of $ 15.00 per ounce, or about 1.38% after it said press reports that the United States is preparing to raise interest rates during the month of December / December.
Earlier in the day, the US Commerce Department said that construction of housing units has declined by 11% to 1.06 million units last month from No. September / September of 1.191 million units. Analysts had expected a decline by 3.9% to 1.16 million units.
The last report showed that building permits rose 4.1% to 1.15 million of the total authorization September / September of $ 1.105 million a permit, and came in conformity with the market expectations.
Among the news that Ttrqubha markets day Fed meeting, which will be released at 2:00 pm New York time, which will give clear information about what happened during the last meeting and the path of the vote, which will help investors to assess the strength of the probability of a rate hike during the month Meeting Minutes Next.
The Fed has left interest rates unchanged at the end of the meeting, which lasted two days late last month, as expected on a large scale, but it surprised markets statement holds tone supports expectations of higher interest rates during the last meeting of this year, and scheduled during the month of December /December. Since then, it reinforced the statements made by Fed officials, including the president of the bank, Ms. (Janet Yellen), expectations that the US central bank to raise interest rates for the first time in almost ten years when it meets next month.
Among the news as well as precious metals, silver futures rose December / December delivery rose by 0.24%, or the equivalent of 3.8 cents, to trade at $ 16.155 an ounce.
Traded futures contracts for copper at the lowest Mstnoyatea since May / May of 2009 amid continuing fears of a decline in demand for the industrial metal.
It is towards our metals news as well, futures copper contracts recorded December / December delivery traded on the New York Mercantile Exchange, the lowest price today at $ 2.067 a pound, the lowest price in more than six years, before rising slightly and traded at $ 2.091 a pound within hours morning US time, to stay on a daily basis, down by 0.59%, or the equivalent of 1.2 cents.
In the London Metal Exchange, copper contracts have prices fell three-month delivery rose 0.34%, to trade at $ 4,656.75 a metric ton, to stay close to the lowest price since June 2009.
The price of copper has fallen under heavy selling pressure in the last 13 days amid fears of a slowing global economy as a whole Chinese economy, in particular, sparking panic among investors and caused a drop in the price of the industrial metal. Red metal prices have fallen about 30% since May / May because of these concerns, which are still going on, especially with regard to the Chinese economy.
The giant Asian nation economically the largest consumer of copper in the world, consuming representing approximately 45% of the total global consumption of the industrial metal. Copper is one of the investment instruments sensitive significantly towards the economic growth forecasts because of the extensive uses in all forms of industry.