International Gold Prices Rebounded Strongly On The 29 Day
The international gold price rebounded strongly on the 29 day, due to the lack of economic growth and the raising of the debt ceiling.
On the same day, the New York Mercantile Exchange gold futures market most active December contract closed at $1631.2 an ounce, an increase of 15 compared with the previous trading day, or 0.9%.
Market analysts believe that the market rebound on the day was mainly supported by demand for hedging, because the United States released disappointing economic growth figures that day, coupled with the debt problem being delayed and investors investing.
gold
In order to avoid danger.
The US Department of Commerce announced on the 29 th that its GDP in the second quarter increased by only 1.3%, far below the 1.7% of economists' forecasts. The Ministry of Commerce said the data showed that the economic recession in the United States was more serious than expected.
In addition, four days before the US reached the debt ceiling, the two parties in Congress still failed to reach an agreement to further the patience of investors.
This week by the United States
debt
The continued support of the problem, gold prices rose 1.9%, thereby pushing up to 8.5% in July.
Silver futures, which were delivered in September, rose 31.2 cents to $40.106 an ounce, or 0.8%.
Platinum futures for October delivery
Price
It closed at $1785.3 an ounce, down 7.1 dollars from the previous day, or 0.4%.
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