Gold prices rose and silver to their highest level in more than three months, today, Thursday, after months of minor moves after revived the minutes of the latest meeting of the Federal Reserve Board (Fed) hopes to launch more bond purchases soon.
It is expected to raise the economic stimulus of inflation expectations, which will benefit gold, which is considered a hedge against rising prices, while boosted prospects for economic recovery sentiment in various sectors of the assets which involve higher risk.
The minutes of the meeting showed the U.S. central that it is likely to launch a new round of monetary stimulus “very soon” unless the economy improved significantly.
Said Chen Min, an analyst at Janroy futures in China, “the tone of the Federal Reserve in the minutes of the meeting completely different from what it was in previous statements and helped gold to break the previous range and move to a higher price range before the peak consumption season.”
Spot gold rose 0.7% to reach $ 1665.09 an ounce of gold, its highest level since the first of May, before falling back slightly to $ 1662.84, and U.S. futures rose gold for December delivery was 1.5% to $ 1665.70 an ounce.
And stepped silver instant more than 2% to 30.51 dollars, its highest level since early May, and rose platinum immediate to about 1558 USD/troy per ounce of gold, its highest level since the third of May, down the difference between the price of gold and platinum to near $ 100, which is less difference in more than three months, palladium scored in the spot market the highest level in two months at 637 dollars per ounce.