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On August 1, the COMEX precious metals were reviewed

by:Deyuan      2020-12-23
New York on August 1, the COMEX gold futures closed higher on Monday, extended gains, weaker than expected because of U. S. economic growth data.

time in New York on August 1, 12:30 ( Beijing time on August 2, 01:30) , the COMEX December gold futures closed higher 0. 2%, to $1359 per ounce. $60, rose for the fifth day.

KitcoMetals global trading at PeterHug, said last week, investors continue to digest the weak economic data. Gold prices jumped on Friday, data released by the us department of commerce, according to the United States in the second quarter real GDP rise 1 season annualised rate of initial value. 2 2%, well below analysts expected. 6%.

Hug, said August trading is relatively thin, usually the market reaction to new information easily exaggerated.

weak economic data on Friday as investors in the United States in the short term interest rates expected to cool. When interest rates are low, compared with the interest-bearing assets, gold is more attractive to investors. Interest rates to rise will also boost the dollar, the dollar makes dollar-denominated gold become more expensive for buyers holding other currencies.

CapitalEconomics SimonaGambarini precious metals analyst said, gold on Friday before the non-agricultural data will also rise. This data is key to traders evaluate the fed to the next event.

she said & other; As close to Friday's payroll data, the price will rise, because the data it will probably disappoint. ”

in the July statement, the fed official said the short-term risk to the outlook for the us economy weakened, restart the process of tightening monetary policy a marker for years. In June, the fed said economic moderate expansion, strong job growth, household spending also & other; Strong growth & throughout; , labor utilization rate increase.

the world's central Banks to take further stimulus measures expected metal has also been lifted.

strategist at citigroup DavidWilson said: & other; The fed did not raise interest rates in July, a weaker dollar, and the market is digestion will not raise interest rates. From the point of the situation, everything is good for gold. ”

silver futures rose in September 15. 3 cents, 20 settlement price to per ounce. 500 dollars.

platinum futures rose in October 12. $7, settlement price to $1163 per ounce. $3.

palladium futures rose 6 September. $50, settlement price to $716 per ounce. $25.
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