The price of gold reached a six-month high of $ 1287 per ounce
Stock Markets Group – gold Prices rose on Wednesday and reached a six-month high as reduced expectations of fed tightening prevented the growth of the dollar in the first days of 2019.
The price of gold on the spot market rose 0.7% to 1287 dollars an ounce, the highest level since June 15, 2018, while gold futures in the United States on the new York Mercantile exchange rose by 0.6% to $ 1,289.
Investor concerns over global economic growth intensified after another poll showed that manufacturing activity in China declined in December 2018 for the first time in 19 months.
According to published data Manufacturing PMI Caixin/Markit fell to 49.7 from 50.2 in November, amid ongoing trade disputes between the two largest economies in the world.
The index of business activity in the Eurozone manufacturing sector in December amounted to 51.4 points compared to 51.8 points in November and was the lowest since February of 2016, causing concern about the prospects for global growth in the EU economy.
Recall that after 12 days of stopping the government in the US, President Donald trump has invited the leaders of the Republican and democratic parties for a briefing to discuss the allocation of money to build a wall on the border with Mexico. But who invited to the meeting not yet known.
Of the most important events in the coming days that will affect the dollar, you can highlight the jobs report in the US which will be released on Friday, and the annual conference of the American economic Association where the fed Chairman Powell will speak to their predecessors, Janet Yellen and Ben Bernanke.
Analyst of commodity markets,
Stock Markets Group