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- Gold prices rose to six-month high
Gold prices rose to six-month high
On Friday, gold continued its 2-percent increase, which was recorded in the previous session, after the Federal Reserve launched an aggressive economic stimulus program, which immediately affected the value of gold.
Now gold is on a 2.3 percent increase for the week. Recall that the price of gold has been increasing for the fourth consecutive week, as investors were waiting for the Fed decision.
It is expected that, at least in the short to medium term, the Fed's actions will provide strong support for gold and will help him to test the strength level of $ 1,800, or $ 1,900. "
Spot gold prices rose to $ 1,777.51 an ounce, while reaching the highest level since February 29.
The most actively traded contract struck a six-month high, rising above $ 1,780, but then came back to $ 1.777
The data also showed that the largest gold reserves in the fund SPDR Gold Trust increased by 0.2% to 1,292.432 tonnes on September 13.
The dollar index fell to a four-month low, while helping to attract buyers of gold.
October futures price of gold on the COMEX is now 1771.1 dollars per ounce.
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