Gold at its highest level in 7 weeks

Gold at its highest level in 7 weeks

Gold prices fell slightly on Monday but remained near its highest level in nearly seven weeks since prompted concerns about the 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 Binmahptt dollar prices of industrial goods from copper to oil to Odnymistoyatea since 2009.

And the decline in the spot price of gold contracts 0.6 percent to $ 1153.20 an ounce by 0638 GMT Jrenchbad that reached its highest level during the day at $ 1165.11 an ounce Phippdaah 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 2 percent.

Gold rose to 1168.40 on Friday, its highest level Mnmalsaba July after increasing more than four percent Alosbuaalmadi which is the highest increase since mid-January.

Chinese stocks registered a sharp decline on Monday stood at 9 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

According to the agency “Reuters” Japanese stocks fell about five percent

And the decline in the price of US gold futures delivery in December 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.

Leave a Reply

Your email address will not be published. Required fields are marked *