8 August COMEX gold futures rose gold

Published: 8:05:00 August 9,2013  Views: 72

Business agency August 9 hearing

Gold and platinum futures rose on Thursday, as Chinese trade data to stimulate stronger demand for hope.

New York time at 2:30 on August 8 (Beijing time at 1:30 on August 9), the most actively traded COMEX 12 December gold closed up $ 24.60, or 1.9 percent, to settle at U.S. $ 1,309.90 an ounce.

Data released Thursday showed that China July import and export growth were faster than expected, marking the world's second-largest economies stabilize.

China Customs on Thursday, July exports rose by 5.1% while imports increased by 10.9%, much higher than the median forecast of 3% and 2.1%, respectively, and reversing the decline of 3.1% in June and 0.7% of the decline trend, July trade surplus of $ 17.82 billion, a median forecast of $ 27.2 billion.

Trading hottest network of October platinum futures rose 3.7 percent, to settle at U.S. $ 1,491.60 an ounce, while September palladium futures climbed 2.1% to $ 738(http://www(Finance News http://www.best-news.us/).best-news.us/).55 an ounce.

Platinum and palladium are used in automotive exhaust filter, the price is very sensitive to economic growth prospects.

'Chinese data released after the industrial precious metals led the gains, followed by gold,' Integrated Brokerage Services of precious metals, said Frank McGhee, head of trading.

The spread between platinum and gold on Thursday widened to highest level in nearly two years.

In addition, TD Securities, traders said China's benchmark stock exchange than gold bullion rose $ 4-5 liters of water, which suggests that increased demand.

China is the world's second largest gold consumer, the country's strong economic growth could boost demand for gold.

Last month, the World Gold Council (WGC) said investment director Marcus Grubb, 2013 India, the world's top gold consumer will crown hand over to China. WGC is currently expected to end China's gold demand will increase by 1,000 tons last year, China's gold consumption capacity of 776 tons.

Gold expanded earlier gains after data showed U.S. initial jobless claims last week increased.

As the U.S. Federal Reserve Board (Fed / FED) will loose monetary policy and the execution time of the job market pegged gold traders pay close attention to U.S. employment data.

Stimulate job growth slowdown or the central bank will support gold easing measures to maintain a longer period of time after the jobs report, the dollar fell.

The following is the closing price ranges include open-outcry and electronic trading:

London afternoon gold fixing price of $ 1,298.25 an ounce, the previous day of $ 1,282.50 an ounce, December gold closed at U.S. $ 1,309.90 an ounce, up $ 24.60 the previous day, trading range between 1,282.00-1,313.80 dollars,

September silver closed at $ 20.193 an ounce, up 68.5 cents, compared with the previous trading day, trading range between 19.455-20.300 dollars,

October platinum futures closed at U.S. $ 1,491.60 an ounce, up $ 53.30 the previous day, trading range between 1,435.57-1,498.60 dollars,

September palladium futures closed at $ 738.55 an ounce, up $ 15.40 the previous day, trading range between 723.10-744.90 dollars.

(Source: Mandarin)



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