TeleTrade - Analytics

    TeleTrade

    724.50 6.50/10
    57% of positive reviews
    Real

    01.09.2015 06:37 Gold climbed on safe haven demand

    Gold rose to $1,142.00 ( 0.84%) as continuous declines in equities and concerns over China's economy made investors seek safe haven. However bullion's upside potential is limited by a looming rate increase in the U.S. This could be the first rate hike in nearly a decade. Many analysts believe that Friday's non-farm payrolls report could determine Fed officials' readiness to raise rates when they meet on September 16-17.

    Meanwhile China Federation of Logistics and Purchasing reported that the manufacturing PMI of the world's second-biggest economy fell to 49.7 in August from 50 in July, slipping below the 50 points threshold that separates expansion from contraction.


    To leave a comment you must or Join us


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