Gold prices rose trimming the start of U.S. trading of substantial reduction in ounces of gold during the last three weeks, and this is supported by U.S. data that pointed to the stability of inflation rates in the country, but high tariffs on imports of gold from India will reduce the gains of gold.
Price increased real-time gold by 0.02% to record levels of trading on 1,656.75 $ an ounce, after U.S. data, which confirmed the stability of consumer prices in the last month and supported by high energy prices, and this consistency in the rates of U.S. inflation will push investors to buy gold as a hedge for inflation.
News that the Indian Amadaakh fees and gold imports will prevent gold prices from rising, especially that of India’s largest consumer of the precious metal in the world, depends heavily on the gold market, Indian demand.
India imported a record amount last year amounted to 969 tons of yellow metal and raised in January, import duties by 90 percent, said Finance Minister Pranab Mukherjee said the strong growth of imports played a key role in expanding current account deficit of the country.
Trading price of gold is currently $ 1,658.00 on the levels of an ounce and recorded a high of $ 1,659.40 and a low of $ 1,650.70 compared to 1,656.86 at the opening price of $.
Benefited gold prices rise in the value of the euro after reports that indicate the possibility of expanding resources of the Fund financial stability of Europe, and in a separate statement, said Chief Executive Officer of the Fund of the European Financial Stability that Alsndov will contribute with a value of 109.1 billion euros in loan rescue of Greece’s second after covering the cost of swap deal .
Notes with U.S. data is somewhat good, and the decline in the value of the U.S. dollar today and a clear tendency of investors to buy higher-yielding assets, and as part of efforts to reduce the large losses that they faced during the last few weeks.
Silver prices currently trading around the levels of $ 32.54 per ounce compared to opening price at $ 32.50 and recorded a low of $ 32.12 and a high of $ 32.70.