Gold held near its highest level in five month yesterday and gained strength from Tip Chairman Ben Bernanke Federal Reserve (the U.S. central bank) that the Bank may soon move to boost growth along with strong recovery of investor demand. Oil fell after data showed Chinese exacerbate the slowdown in the largest energy consumer in the world, but prices drew support from hopes for a global stimulus measures as central banks try to revive economic growth.
According to two surveys Risien affected China’s industrial sector slowdown in new orders, which predicts continued economic slowdown in the second-largest oil consumer in the world in the third quarter of the year.
The data caused a shaky start this month after Brent crude nearly 2% on Friday. It is expected that trading would be limited due to the closure of U.S. markets on the occasion of the Labor Day holiday.
And fell Brent futures for October delivery seven cents to 114.50 dollars a barrel after jumping nearly two dollars on Friday. The U.S. crude futures fell 15 cents to $ 96.32.
Gold rose 4.8% in August to record monthly increase for the third month in a row and the largest increase in a single month since January and is due in large part to expectations that indicates the Fed to start a new program trillions of dollars to buy bonds to keep interest rates low.
The decline Spot gold 0.2% to $ 1686.96 per ounce after touching its highest level in five months $ 1692.71 hit on Friday rose 2.1%, the biggest daily increase since late June.
And platinum rose 0.7% to $ 1539.74 an ounce shy of the highest level since early May with the continuation of the strike in the mining activities in South Africa’s own company Omin third largest producer of platinum in the world.
And silver rose 0.2% to 31.75 dollars per ounce while palladium rose 2.4% to $ 630 an ounce.
The euro was steady against the dollar, boosted by expectations that the European Central Bank takes bold steps this week to address the debt crisis but is expected to limit growth prospects weak single currency gains.