Gold continues to rise amid weak U.S. statistics
Gold prices rose on Thursday for the second day in a row. The two
The two days, which followed some declines on Tuesday, continued the positive momentum seen since the beginning of last week.
The precious metal gained nearly 3% during that period.
A positive factor yesterday was the weak statistics on the
economic growth in the United States in the third quarter. According to
The first estimate was 2%, lower than analysts' forecasts of 2.7% for the third quarter.
analysts had expected 2.7%. By comparison, in the second trimester the figure
The figure was 6.7%, by comparison, in the second trimester.
Demand for gold was also supported by the news
dollar depreciation that followed the news. The cheaper dollar, as we know, is advantageous
for investors using foreign currency, because
allows to buy more of this precious metal.
According to Think Markets analyst Fawad Razakzady, gold
in the near term will continue to rise in price due to the fact that market players
Market players do not expect central banks to sharply tighten monetary policy, even in the case of accelerating inflation.