Gold rises to highest level in 3 months after weak data

Gold settles at highest price in a week

Gold rises to highest level in 3 months after weak data

Gold climbed for the fifth session in a row, on Monday, to hit new highs in three months, as weak US data reinforced hopes that the Federal Reserve is reluctant (US central bank) for a rate hike soon.

And went up the spot price of gold to $ 1232.20 an ounce, its highest level since February before trimming gains to hit US $ 1229.55 by 0644 GMT,. This is the longest wave gains for gold since March.

Benefiting the metal in the final days of a weak US economy data hurt the dollar and adjusted monetary policy to the Fed’s expectations.

Silver rose 1.3 percent to $ 17.7 per ounce. Platinum offers 0.6 percent to $ 1169.3, and palladium for the same to $ 793.15 an ounce.

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