TeleTrade - Analytics

TeleTrade

518.25 6.75/10
57% of positive reviews
Real

10.08.2015 06:42 Gold stayed slightly above its 5-1/2 low

Gold is currently at $1,095.60 ( 0.14%) slightly above a 5-1/2-year low. U.S. employment data matched optimistic expectations suggesting the Federal Reserve could raise interest rates in September. Higher rates would be harmful for the non-interest bearing bullion; although some analysts believe that a minimum increase in U.S. rates is considered in current prices of gold.

Holdings of SPDR Gold Trust, the largest gold-backed exchange-traded fund in the world, dropped further to 21.47 million ounces, the lowest level since September 2008.



To leave a comment you must be or register

By visiting our website and services, you agree to the conditions of use of cookies. Learn more I agree