Although investors on the market expected the FED will increase interest rate, Gold is protecting its earnings at the end of week with climbing to its highest level since 2013. Spot gold reached from 1,258 USD level to 1,256 USD level which was the closing level of last Thursday with about 0.4% increase on the global forex market. After two-week decline, the gold focused prices increase with the support of ETF assets to six weeks in a row. Gold have not had a long decreasing period, due to comments from Fed officials about interest increase during this year and stronger position of USD on the market. At the end of Tuesday, the gold prices have increased with the decline of global stocks continued more than three days. U.S. retail sales, producer price data and consumer confidence index can give an idea about the direction of the interest in the USA will take. Especially, increasing interest in FED meeting in November will be a weak possibility, but during the year we can say it’s stronger possibility.
- Date: 15 October 2016 Sat 11:06
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