Gold hovers around the $ 1700 level after negative Chinese data center

Gold prise is pushed up by the Comex market

Prices of gold in circulation today about the level of $ 1700 an ounce, after it posted a decline in the previous session by the Chinese data, which is one of the engines of the world economy reduced the objectives of economic growth.

On the other hand is the current market price point attractive to buy thanks to the decline of previous transactions, and also enjoys the support of the gold purchases in the form of Asian jewelry.

And on the level of trading market in Asia, affected markets, the announcement by China to reduce the targeted growth rate in 2012, prompting the stock market to drop to its lowest level in eight years by 7.5%, while the tension between Iran and the West pays investors after all the risk and the sale, for a profit and take advantage of previous gains.

The movement of gold at the moment about the level of $ 1704.19, after a decline in the past week by about 4%, continuing its distance from its highest ever, and recorded in September last year 0.1920 dollars per ounce.

And on the level of the latest report of the World Gold Council, he noted that the demand for gold hit its highest level in fourteen years in the last year, boosted by purchases extensively by China’s central, reaching its highest level in forty years, and is expected to exceed China, India in the rate of purchase of the precious metal, and futures transactions, contracts for April delivery rose on the next slightly by 0.08% to 17053.30 dollars an ounce.

It is worth mentioning that the price of spot gold fell last week by about 4% registered the worst performance since the mid-Weekly last December, by the Federal Reserve chairman ignore any hints about the cash management program, but the prices are still high by about 9% since the beginning of 2012.

In the same vein, silver rose slightly to 0.09% today to reach 33.97 dollars an ounce, and also stepped up to the Silver futures for March delivery at about U.S. 0.33% to a record 34.02 dollars an ounce.

And on the level of industrial minerals, has scored platinum in the spot market fell slightly by about 0.04% to reach 1657.24 dollars, to snatch from its gains since the beginning of the year to reach 18.97%, while increased palladium by 0.11% to record 703.22 dollars, according to Reuters data.