- Analytics
- News and Tools
- Market News
- Gold rose above $ 1615
Gold rose above $ 1615
Gold prices rose above $ 1615 an ounce against a background of recovery of the euro against the dollar and a rise in the stock markets. We also learned that the European Central Bank will reduce interest rates on loans for Spain and Italy.
Market participants, who put on the increase in the price of gold hoping that the U.S. Federal Reserve will begin another round of quantitative easing later this year, while maintaining long-term interest rates at extremely low levels.
But the problem is that the Fed did not give clear deadlines for holding the next QE, and the ECB president Mario Draghi did not name the date of the next round of bond buying.
Also worth noting is that the demand for gold in India, which is the main consumer was sluggish before the season of active purchases, which begins this month and runs through until November. Stocks of gold ETFs have shown in the flow of bag are his work only 6.9 tons, which was the biggest one-day influx of an ounce from March 1, with the bulk flow was recorded outside the United States.
The cost of the August gold futures on the COMEX today rose to 1615.7 dollars per ounce, then dropped and is now trading at around 1611.2 dollars per ounce.
© 2000-2024. All rights reserved.
This site is managed by Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).
The information on this website is for informational purposes only and does not constitute any investment advice.
The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.
Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.
Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.
Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.
Bank transfers
