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04.08.2015 15:22 Gold price rises after the yesterday’s 0.52% decline

Gold price rose after the yesterday's 0.52% decline. Speculation that the Fed starts raising interest rate soon weighed on gold price. St. Louis Federal Reserve President James Bullard said on Friday that the Fed may start raising interest rates in September due to the latest U.S. economic growth data.

 

 

Market participants are awaiting the release of the U.S. labour market data.

 

 

The U.S. Commerce Department released factory orders data on Tuesday. Factory orders in the U.S. rose 1.8% in June, in line expectations, after a 1.1% decrease in May. May's figure was revised down from a 1.0% decline.

 

 

The increase was driven by a rise in demand for commercial aircraft.

 

 

October futures for gold on the COMEX today increased to 1093.80 dollars per ounce.

 

 



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