Gold up to $ 1,200 per ounce after the issuance of disparate US data

Gold up to $ 1,200 per ounce after the issuance of disparate US data

Gold up to $ 1,200 per ounce after the issuance of disparate US data

Traded gold prices to settle near the price of $ 1,200 per ounce during Tdullac Tuesday, while investors reacted to a series of US data divergent.

On the Comex division of the New York Mercantile Exchange, gold June delivery rose 9.20 cents, or the equivalent of 0.78%, to trade at $ 1,196.00 per ounce during morning trading after the highest price record of $ 1,199.00 per ounce.

The previous day, gold rose 12.30 cents, or the equivalent of 1.05%, to close at $ 1,186.80 per ounce of gold is likely to find support at $ 1,168.40 per ounce, its lowest price since May 1 and resistance at $ 1,207.40 per ounce the highest price since April 30.

Also in COMEX silver delivery in July rose 14.6 cents, or the equivalent of 0.89%, to trade at $ 16.58 an ounce, On Monday, futures rose 30.6 cents, or the equivalent of 1.9%, to close at $ 16.44 per ounce.

It rose and the US dollar index, which measures the strength of the dollar against a basket of six major currencies, rose 0.1% to trade at 95.48 on Tuesday morning after rising to the highest price overnight by 96.10.

The dollar fell after the trade deficit of the United States widened to 51.37 billion from an earlier deficit of 35.89 billion dollars in February, which was revised from an earlier deficit of $ 35.4 billion.

Analysts had expected the trade deficit of the United States expanded by $ 41.2 billion in March

At the same time, said the Institute for Supply Management’s purchasing manager and rose non-manufacturing index to its highest level in five months, from 57.8 in April, beating expectations for a reading of 56.2 and higher than 56.5 in March.

Investors are awaiting the release of non-farm payrolls report from the United States for the month of April on Friday in search of more clues on the timing of a rate hike by the Federal Reserve.

It was likely that the jobs report adds to the strong non-farm speculation about the start date of the Federal Reserve to raise interest rates, while the decline in the numbers reinforces the Asaralzhb by weakening the argument for a rate hike in early.

Elsewhere in the metals trade, copper delivery in July rose 1.4 cents, or 0.48%, to trade at $ 2.935 a pound, Prices have fallen by 0.9 cents, or equivalent to 0.38%, on Monday to settle at $ 2.920 a pound.

Data showed that manufacturing activity in the private sector of the Chinese shrank at its fastest pace in a year in April / May as new orders fell. The data added to fears of a slowdown in the second largest economy in the world.

Purchases fell Chinese manufacturing PMI to 48.9 in April / May, the lowest level since April / April 2014, where he had scored 49.6 in March / March in below expectations that were looking forward to 49.4.

Since November, the People’s Bank of China enter a series of stimulus measures, including cutting interest rates twice and cut reserve requirements for banks twice grand proportions, so as to stimulate economic activity and boost growth.

Asian nation is the largest consumer of copper in the world, and account for 40% of global consumption.

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