Thursday, January 28, 2016

Gold prices Slipped from the highest Level within 12 weeks

Gold prices Slipped from the highest Level within 12 weeks, The price of gold down thin from the highest positions in 12 weeks on trading Thursday this week. It happened after the central bank of the United States (us) Federal Reserve/The recognizes the challenging global economy. However, the signal was not likely deterred from raising interest rates in 2016.

The US central bank's statement that less aggressive that overload the price movement of gold. The previous global economic uncertainty from China to Europe is affecting the market.

In the spot market, the price of gold down 0.5 percent to as low as US $ 1119.69 per ounce. Trading on Wednesday this week, gold prices are in the range of US $ 1127.80, and this is the highest level since November 3, 2015.

Meanwhile, the price of gold for delivery in February rose US 0.4 per cent to US $ 1120 per ounce. Silver prices slipped 0.2 per cent to US $ 14.46.

"Investors are taking advantage of the gold after rising recently. I think the appeal of gold fade somewhat, and investors looking for a relatively safe investments such as Japan yen, "said Ang as quoted from Reuters, Thursday (29/1/2016).

Before the first policy meeting of the US central bank this year, expectations for a rise in U.S. interest rates in March has subsided in the middle of the troubled global economy.

"Although the US central bank's comments weren't aggressive as expected. But there is hope when interest rates will rise and gradual slowing down. It supports the strengthening of metal prices, "said MKS Group Trader James Gardiner.

Citing a report, the price of gold turned positive and rise to the highest positions in 12 weeks on trade Wednesday this week.

It pushed u.s. central bank stated sentiment monitoring global economic and financial developments. In addition, the u.s. central bank maintaining fixed interest rates.

The price of spot gold rose 0.03 percent to as low as US $ 1124.80 per ounce, and the highest since November 3, 2015. Gold has benefitted from the turmoil in the stock market and worries about a slowdown in China's economy that contributes to lift gold prices of six per cent on the month.



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