Gold reversed wave losses and rise to $ 1183

Gold rose on Monday, after incurring losses over three days, but the metal is far from the lowest price in six weeks as investors continued to speculate GMT attempts to raise US interest rates.

By 0704 GMT, the spot price of gold rose 0.4 percent to $ 1183.08 an ounce, up from its lowest level in six weeks, which reached US $ 1170.20 on Friday.

The metal has recorded sharp losses last week after the Federal Reserve said (US central bank) that the slowdown in the US economy in the recent period and did not rule out a temporary interest rate hike this year.

Investors will be watching US economic data released this week, include the jobs report for April on Friday. It is like any weak figures to pay the Fed to postpone raising interest rates, which will support gold.

Silver rose 0.2 percent to $ 16.31 an ounce.

Platinum rose 0.3 percent to $ 1129.74, and palladium provide for themselves to record 774.25 dollars per ounce.

Add a Comment