Gold prices rebounded from earlier losses Uprising traded slightly higher during trading on Wednesday, after the Reserve Bank shrank index of manufacturing conditions in New York unexpectedly in April \/ May, adding to concerns about the strength of the economy.<\/p>\n
On the Comex division of the New York Mercantile Exchange, gold fell June delivery, the lowest price in the session of $ 1,188.50 per ounce before trading at 1,193.50 during morning trading in the United States, up by 1.10 cents, or equivalent to 0.09%.<\/p>\n
On the previous day, gold prices surged to US $ 1,183.50 per ounce, a level not seen since the gold April 1 before ending the session at $ 1,192.60 per ounce, down by 6.70, or the equivalent of 0.56%.<\/p>\n
And was likely to find support gold at $ 1,180.50 per ounce, the lowest price since April 1 and resistance at $ 1,209.30 per ounce the highest price since April 13.<\/p>\n
In a report, Federal Reserve Bank of New York said that the general index of business conditions fell to -1.2 this month from the reading of 6.9 in March Analysts had expected the index to 7.0 recorded in April \/ Braille.<\/p>\n
And raised the disappointing data of new concerns about the strength of the economy, sparking speculation that the Federal Reserve may delay interest rates for a long time until late 2015, instead of a stress in the middle of the year.<\/p>\n
The dollar index, which measures the strength of the dollar against a basket of six major currencies, was up 0.3% to trade at 99.30 after the release of the data, its highest price during the day by 99.58.<\/p>\n
In another place in the Comex, silver May delivery fell 0.8 cents, or equivalent to 0.05%, to trade at $ 16.15 an ounce, while declining {8831 | Copper}} May delivery increased by 1.5 cents, or equivalent to 0.56%, currently trading at $ 2,685 a pound.<\/p>\n
During earlier, official data that China’s economy grew by 7.0% in the first quarter showed, in line with expectations and down from growth of 7.3% in the previous quarter. This was the slowest pace of growth since the global financial crisis in 2008.<\/p>\n
A separate report showed that industrial production rose at an annual rate of 5.6% in the March \/ March, below expectations for an increase of 6.9%, after a gain of 6.8% in the preceding month.
\nCame retail sales and industrial production reports both below expectations, pointing out that China needs to further move to prevent the continued slowdown in the economy.<\/p>\n
Asian nation is the largest consumer of copper in the world, formed almost 40% of global consumption.<\/p>\n","protected":false},"excerpt":{"rendered":"
Gold prices rebounded from earlier losses Uprising traded slightly higher during trading on Wednesday, after the Reserve Bank shrank index of manufacturing conditions in New York unexpectedly in April \/ May, adding to concerns about the strength of the economy. On the Comex division of the New York Mercantile Exchange, gold fell June delivery, the […]<\/p>\n","protected":false},"author":3,"featured_media":436449,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9],"tags":[],"class_list":["post-436946","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-gold-news"],"_links":{"self":[{"href":"https:\/\/dxbgoldrate.com\/dubaigoldrates\/wp-json\/wp\/v2\/posts\/436946","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dxbgoldrate.com\/dubaigoldrates\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dxbgoldrate.com\/dubaigoldrates\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dxbgoldrate.com\/dubaigoldrates\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/dxbgoldrate.com\/dubaigoldrates\/wp-json\/wp\/v2\/comments?post=436946"}],"version-history":[{"count":0,"href":"https:\/\/dxbgoldrate.com\/dubaigoldrates\/wp-json\/wp\/v2\/posts\/436946\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dxbgoldrate.com\/dubaigoldrates\/wp-json\/wp\/v2\/media\/436449"}],"wp:attachment":[{"href":"https:\/\/dxbgoldrate.com\/dubaigoldrates\/wp-json\/wp\/v2\/media?parent=436946"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dxbgoldrate.com\/dubaigoldrates\/wp-json\/wp\/v2\/categories?post=436946"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dxbgoldrate.com\/dubaigoldrates\/wp-json\/wp\/v2\/tags?post=436946"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}