Gold rises with the support of falling Asian stock markets And increased Spot gold
Gold rises with the support of falling Asian stock markets
And increased Spot gold transactions
Roudao - Erbil
The price of gold rises, on Friday, supported by the decline in Asian stock markets, but expectations of a new increase in US interest rates limited the gains.
Asian stocks fell to their lowest level in three and a half years after rising briefly earlier in wasteful gains due to renewed pressure on oil prices and the release of disappointing Chinese data, which fueled investor fears about the global economy.
And increased Spot gold transactions 0.6 percent to $ 1083.76 an ounce, while the price of the yellow metal rose in US futures contracts about one percent to $ 1083.9 an ounce.
And it landed the spot gold price 1.86 percent since the beginning of the week in the biggest loss of its kind since the week ended on the sixth of November.
The metal has reached its highest level in two months at $ 1112 an ounce last week with Chinese stocks volatility that has undermined investors' appetite for risk, but trading declined since then in light of expectations in increments of new US interest rates, including reduced demand for gold, which does not generate interest.
Among other precious metals silver fell about 0.5 percent since the beginning of the week after rising one percent last week, while palladium fell 1.3 percent after falling 12 percent last week and platinum fell about five percent in the second weekly losses.