Gold is recovering thanks to the monetary stimulus expectations


13-07-2016 06:48 PM

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Orbit News –

London – Reuters

Gold climbed on Wednesday, recovering from its lowest level in nearly two weeks, amid expectations of more economic stimulus helped boost investor appetite, while the dollar remained stable.
Gold climbed in the spot trading 0.5 percent to $ 1338.55 the ounce, after touching US $ 1327.30 an ounce earlier, the lowest level since the first of July this month. The yellow metal fell 1.7 percent yesterday in the biggest daily loss since 24 May last.
Gold climbed to US futures contracts 0.6 percent to $ 1341.60 an ounce, gold has increased about $ 100 an ounce, since the vote in favor of Britain out of the EU, which prompted investors to shift their liquidity to safe – haven assets. Gold has faced some pressure in the wake of strong jobs data in the non – agricultural sectors in the United States issued Friday, after five weeks of gains.
Among other precious metals, palladium touched its highest level in eight months at $ 644 an ounce. And platinum rose 0.2 percent to $ 1088.20 an ounce, after falling for the first time in two weeks in the previous session. Silver rose 1.1 percent to $ 20.33 an ounce.

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