Gold prices rose in early Asian trade on Thursday. Investors continue to keep an eye on China in anticipation of the other actions of the central bank
Gold for December delivery rose 0.11% to $ 1,124.30 per troy ounce.
Silver for September delivery was up slightly by 0.03% to price $ 15.525 an ounce
Copper for September delivery held unchanged at levels 2,349 per pound.
China is the second largest consumer of gold after India in the world. Probably deteriorated situation of the Chinese economy will have a negative impact on gold, but it is possible that investors should not ignore the precious metal and look at it as a safe haven. When uncertainty and volatility in the markets, gold is considered as a place providing peace of mind to investors, so it is possible the yellow metal to increase its value while China's economy is moving in a negative direction
25 Canada Square, Level 33, office 50, Canary Wharf London, E14 5LQ +44 20 3608 6256
World Financial Markets - 0700 17 600 Varchev Exchange - 0700 115 44
Varchev Finance Ltd is registered in the FCA (FINANCIAL CONDUCT AUTHORITY) with a passport in the United Kingdom: FCA, United Kingdom - registration number: 494 045, which allows provision of financial services in the United Kingdom.
Varchev Finance Ltd strictly comply with the statutes of the European directive MiFID (Markets in Financial Instruments). targeting increased efficiency, transparency and uniformity of financial instruments.
Varchev Finance Ltd is authorized and regulated by the Financial Supervision Commission - Sofia, Bulgaria: License number RG-03-02-05 / 15.03.2006
The information on this site is not intended for distribution or use by any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.
Disclaimer:
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 63,41% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.