The U.S. dollar weakened, Global Gold continue strengthening

Posted by super on February 19, 2016 in Asset Companies |

Gold prices bounce back, after the United States dollar (U.S.) weakened against the euro. Positive sentiment came after the European Central Bank said it was ready to buy bonds for countries in debt.

This policy makes the euro exchange rate rose, but the impact of high inflation. Investors also looked at gold as an asset against inflation hedge. Investors are waiting for important jobs data from the U.S., to prove whether the stimulus Monter stage III (QE3) issued by The Federal Reserve has the desired effect on the labor market.

Spot gold prices edged up $ 3 type, 20 or 0.2 percent to USD1.791, 75 per troy ounce, gold is still recorded a 1.2 percent weekly gain, with the highest level of USD1.794, 90 per barrel, the highest since November 2011. While the U.S. gold, Comex Gold, down $ 2, 60 or 0.14 percent to USD1.793, 90 per troy ounce.

Positive sentiment was also supported gold European Central Bank’s policy to keep interest rates. In addition, ECB President Mario Draghi said the ECB was ready to buy bonds of troubled euro zone and soothe tensions in financial markets.

SPDR Gold Trust, the world’s largest gold trading gold-backed exchange-traded fund, said its holdings reached a record high of 1,333.44 tonnes on October 4.

Spot platinum rose to a more than seven-month high of USD1.719, 50 per troy ounce. Spot palladium, sloping at USD675, 50 with the highest level of USD668, 50 per troy ounce.

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