{"id":64216,"date":"2014-11-25T07:21:51","date_gmt":"2014-11-25T12:21:51","guid":{"rendered":"http:\/\/countingpips.com\/?p=64216"},"modified":"2014-11-25T07:33:49","modified_gmt":"2014-11-25T12:33:49","slug":"gold-prices-trade-below-1200","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2014\/11\/gold-prices-trade-below-1200\/","title":{"rendered":"Gold Prices Trade Below $1,200"},"content":{"rendered":"
November 25, 2014<\/div>
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By HY Markets Forex Blog<\/a><\/u><\/strong> <\/p>\n

Gold prices were seen trading higher on Tuesday, but remained below $1,200 as the market focus on further economic reports from the world\u2019s largest economy due to be released, including the US GDP report and consumer confidence.<\/p>\n

Gold for immediate delivery gained 0.21% to $1,198.40 per ounce, after rising to $1,207.93 on Friday.<\/p>\n

Bullion for February delivery came in at $1,198.30 an ounce on the Comex in New York, while silver for immediate delivery rose 0.3% to $16.5340 an ounce. Spot platinum added 0.5% to $1,210.12 an ounce, while Palladium was flat at $791.55 an ounce.\u00a0<\/span><\/p>\n

The dollar index, which measures the strength of the greenback against a basket of major currencies, rose 0.01% to 88.15 on Tuesday. Assets in the world\u2019s biggest gold-backed exchange-traded fund, SPDR Gold Trust, came in at 720.91 tons on Monday.<\/p>\n

Last week, the People\u2019s Bank of China (PBoC) made an unexpected announcement to cut the nation\u2019s interest rate for the first time since 2012 after the Bank of Japan increased its asset purchases under its qualitative and quantitative easing (QQE) program. The European Central Bank also lowered interest rates and offered long-term loans to banks in June.<\/p>

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\u201cDifferences in economic fundamentals in the US, Europe, Japan and China have led to policy divergence, a situation we see continuing in the medium term,\u201d Yang Xi, a Hangzhou, China-based analyst at Yongan Futures wrote in a note. \u201cWhile ongoing stimulus will give precious metals some support, the strength of the dollar will limit any rallies,\u201d he added.<\/p>\n

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The post Gold Prices Trade Below $1,200<\/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, but remained below $1,200 as the market focus on further economic reports from the world\u2019s largest economy due to be released, including the US GDP report and consumer confidence. Gold for immediate delivery gained 0.21% to $1,198.40 per ounce, after rising to […]<\/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-64216","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/64216","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=64216"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/64216\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=64216"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=64216"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=64216"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}