Gold strengthens gains amid demand for safe havens and US data weak

Gold strengthens gains amid demand for safe havens and US data weak

SINGAPORE (Reuters) – Gold continued to rise for a third session on Wednesday, boosted by the weak dollar and US economic data boosted speculation that varying the Federal Reserve (Fed) will not raise interest rates soon.

By 0615 GMT, the spot price of gold rose 0.2 percent to $ 1195.60 an ounce (an ounce) level just shy of $ 1,200 principal.

And it contributed to several other factors, including high oil prices and the decline in global stock markets in strengthening demand for the metal, which is a safe haven.

She said Jason Serisola trader at Am.kih.as Group “received gold in support of the rise of oil prices and rising trade deficit Alomraki..omn likely that non-farm payrolls to be announced on Friday following data will be the main catalyst.”

The rise in oil prices boosts demand for gold, which is a hedging tool against inflation, led by oil.

And Asian stock markets fell to its lowest level in two weeks on Wednesday, influenced by weak US and European markets.

Silver rose 0.18 percent to $ 16.56 an ounce.

Platinum rose 0.09 percent to $ 1143.5 provides palladium 0.33 percent to hit 792.1 dollars an ounce

Leave a Reply

Your email address will not be published.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