Off the wire
• Macedonia's CPI decreased in September  • Oil prices drop as U.S. production climbs  • Migrants to be transited mainly by train in Macedonia  • Roundup: BiH devoted to fighting against terrorism: official  • Ukraine pledges special fund for post-conflict recovery in eastern regions  • Ukraine rules out blanket amnesty for rebels  • Angola to host international conference on maritime, energy security  • Urgent: U.S. dollar mixed as IMF cut global growth forecast  • Chinese navy makes first visit to Poland  • Nephew of Somali president shot dead in Al-Shabaab attack  
You are here: 　 Home

1st LD Writethru: Gold futures extend gains to fourth successive session

Xinhua, October 8, 2015 Adjust font size:

Gold futures on the COMEX division of the New York Mercantile Exchange extended gains on Wednesday to its highest settlement since Sept. 24.

The most active gold contract for December delivery closed up 2.30 U.S. dollars, or 0.20 percent, to settle at 1,148.70 dollars per ounce.

Analysts said that gold futures continued to extend gains on expectations of a U.S. rate hike delay with thin liquidity on Wednesday.

The lower-than-expected jobs data released Friday evoked investors speculations that the Federal Reserve will delay the rise of interest rates to next year.

Moreover, data released on Tuesday by the U.S. Commerce Department, which showed that U.S. international trade deficit in goods and services increased to 48.3 billion dollars in August from revised 41.8 billion dollars in July, also boosted the U.S. rate hike delay expectations.

Some analysts noted that gold managed to settle higher on Wednesday as the International Monetary Fund (IMF) lowered its global growth forecast for 2015.

The IMF on Tuesday predicted that the world economy will only see a growth of 3.1 percent in 2015, as opposed to 3.4 percent last year. Analysts said the prediction gave some support to gold as the precious metal is often viewed as a safe haven for traders in periods of economic recession.

Silver for December delivery added 11 cents, or 0.69 percent, to close at 16.094 dollars per ounce, while platinum for October delivery gained 11.70 dollars, or 1.25 percent, to close at 946.40 dollars per ounce. Endit