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17.08.2015 15:25 Gold price rises after the weaker-than-expected NY Fed Empire State manufacturing index

Gold rose after the weaker-than-expected U.S. economic data. The NY Fed Empire State manufacturing index plunged to -14.92 in August from 3.86 in July, missing expectations for an increase to 5.0. It was the lowest level since April 2009.

 

 

News that China increased its gold reserve in July also supported gold price. China's gold reserve climbed 1.16% to 1,677.3 tonnes in July from 1,658 tonnes in June, according to data from the People's Bank of China (PBoC).

 

 

The channels were domestic scrap gold, production storage and trade in domestic and overseas markets.

 

 

October futures for gold on the COMEX today increased to 1121.80 dollars per ounce.

 

 



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