15th October 2015
Gold rose to a three-month peak this week, as a weaker dollar and expectations US rates will remain low for longer lent support to the metal.
On the Comex in New York, gold for December delivery touched $1,174.50 per ounce, its best level since June 30th.
At the same time, the US dollar has been trading at a three-week low, as investors bet on the Federal Reserve delaying its first rate hike in a decade until some time in early 2016.
While gold rose to its best in three months, copper was close to its strongest level in three weeks despite another round of weak Chinese data.
Producer prices in China fell 5.9 per cent in September, the 43rd straight monthly drop and the worst reading since October 2009.
That’s putting pressure on investors, who believe the country’s growth will slow this year to below seven per cent for the first time since the financial crisis.
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