{"id":62252,"date":"2014-10-21T08:24:58","date_gmt":"2014-10-21T12:24:58","guid":{"rendered":"http:\/\/countingpips.com\/?p=62252"},"modified":"2014-10-21T09:44:36","modified_gmt":"2014-10-21T13:44:36","slug":"gold-climbs-near-five-week-high-on-weaker-dollar","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2014\/10\/gold-climbs-near-five-week-high-on-weaker-dollar\/","title":{"rendered":"Gold Climbs Near Five-Week High on Weaker Dollar"},"content":{"rendered":"
October 21, 2014<\/div>
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By HY Markets Forex Blog<\/a><\/u><\/strong> <\/p>\n

Gold prices were seen trading higher on Tuesday, trading near its highest in five weeks \u00a0as the greenback weakened amid concerns over the global economic slowdown.<\/p>\n

Gold for immediate delivery traded 0.4% higher to $1,251.63 an ounce, according to Bloomberg generic pricing, while gold futures for December delivery rose 0.6% to $1,251.60 on the Comex in New York. Silver futures fell 0.69% to $17.475 per ounce. Platinum rose 0.5% to $1,274.87 an ounce, while Palladium gained 0.3% to $765.60 an ounce.\u00a0<\/span><\/p>\n

The US dollar index, which measures the strength of the greenback against a basket of six major peers, feel for a second day, falling 0.07% lower 84.8910.<\/p>\n

Analysts are expecting the US Federal Reserve may delay raising its interest rate and may also setback ending its quantitative-easing program at its next meeting.<\/p>\n

\u201cThe prospect for a weaker U.S. dollar near-term may provide support for bullion,\u201d James Steel, an analyst at HSBC Securities, wrote in a report. \u201cA more dovish Fed view would be interpreted as gold friendly.\u201d<\/p>

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<\/div>\n

China GDP<\/span><\/h2>\n

The world\u2019s second largest economy released a report which showed that China\u2019s gross domestic product figure for the third quarter expanded at the weakest pace in five years. The nation\u2019s GDP expanded 7.3% year-on-year, compared to a forecast of a 7.2% growth.<\/p>\n

A report from the Swiss Federal Customs Administration showed that gold exports from Switzerland came in at 172.6 tons of gold in September, the most in seven months.<\/p>\n

Assets in the world\u2019s biggest gold-backed exchange-traded fund, SPDR Gold Trust, fell 1.18% to 751.97 tons on Monday, the most in a year.<\/p>\n

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The post Gold Climbs Near Five-Week High on Weaker Dollar<\/a> appeared first on | HY Markets Official blog<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

By HY Markets Forex Blog Gold prices were seen trading higher on Tuesday, trading near its highest in five weeks \u00a0as the greenback weakened amid concerns over the global economic slowdown. Gold for immediate delivery traded 0.4% higher to $1,251.63 an ounce, according to Bloomberg generic pricing, while gold futures for December delivery rose 0.6% […]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-62252","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/62252","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/comments?post=62252"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/62252\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=62252"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=62252"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=62252"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}