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- Gold price climbs on a weaker U.S. dollar
Gold price climbs on a weaker U.S. dollar
Gold price rose on a weaker U.S. dollar. The U.S. dollar declined after the release of the weaker-than-expected U.S. trade deficit. The U.S. trade deficit widened to $48.33 billion in August from $41.81 billion in July, missing expectations for a rise to $47.4 billion. July's figure was revised down from a deficit of $41.90 billion.
Exports declined 2% in August, while imports increased 1.2%.
The International Monetary Fund (IMF) lowered its global growth forecasts for this year and next. The global economy is expected to expand 3.1% in 2015, down from the previous estimate of 3.3%, and 3.6% in 2016, down from the previous estimate of 3.8%.
December futures for gold on the COMEX today increased to 1150.20 dollars per ounce.
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