TeleTrade - Analytics


    894.00 6.50/10
    63% of positive reviews

    01.02.2016 06:20 Gold traded higher

    Gold climbed to $1,122.20 ( 0.52%) amid uncertainty over the global economy and signs of weakness in the Chinese economy. China Federation of Logistics and Purchasing reported on Monday that the country's Manufacturing PMI declined to 49.4 in January compared to 49.7 reported previously and 49.6 expected.

    Holdings of SPDR Gold Trust, the largest gold-backed exchange-traded-fund in the world, rose about 4% in January.

    Nevertheless analysts don't expect gains to be sustained for a long time. Societe Generale forecasts gold price to average at $1,040 in the first quarter and $955 in the last quarter of the current year.

    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