Gold jumps to highest level in two weeks due to receding expectations of raising US interest rates


Gold jumps to highest level in two weeks due to receding expectations of raising US interest rates

Gold jumps to highest level in two weeks due to receding expectations of raising US interest rates

Gold prices jumped on Wednesday, the European market to the highest level in two weeks, extending gains for the second day in a row, with receding expectations near the Federal Reserve to raise US interest rates this year with the continuation of the world’s largest economy is weak disclosure of the data.

Gold trading by 0900 GMT around $ 1149.15 an ounce. The time from the opening level of $ 1146.64, and recorded the highest level of $ 1152.87 Top 24 since last September, and a minimum of $ 1146.07.

Gold prices ended the trading yesterday, up by 1 percent in the second daily gain during the last three days, with the support of the US dollar slipped against the majority of major currencies.

Yesterday’s data showed a widening in the US trade balance deficit through August at about $ 6.5 billion, the largest deficit in five months, and Iez to the decline in US exports hit by the slowdown in the global economy in conjunction with the rise in imports from China after the devaluation of the yuan against the dollar.

With the continued disclosure of the US economy recently weak growing doubts data in the recovery of the largest economy in the world during the third quarter of this year, it reduced expectations of near by the Federal Reserve to raise interest rates during 2015, increasing the likelihood filed in the first quarter of 2016.

Gold holdings at SPDR Gold Trust Fund the world’s largest gold-backed funds indicators have remained little changed yesterday at 688.98 Total metric tons after falling the day before yesterday of 689.2 metric tons level is the highest level of holdings since 21 July last change.

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