Thursday 19 November 2015

Gold rises slightly



Today gold is attempting to increase after reached yesterday more than five-year low during a temporary retreat of the dollar, which eased pressure on raw materials and make the gold more affordable for buyers using other currencies.
Yesterday representatives of the Federal Reserve continued to hint for a rates hike in December after seven years of near-zero levels. They expressed confidence that the markets will accept the changes smoothly, despite some concerns about a sharp reaction.
Gold spot price is $ 1077 per ounce compared with yesterday's drop to $ 1064.95, which is the lowest value since the beginning of 2010.
U.S. housing starts in October fell to a seven-month low assingle-family home construction in the South tumbled, but a surge in buildingpermits suggested the housing market remained on solid ground.
The dollar today retreated from seven month highs due to withdrawing gains.

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