Gold rose on weak statistics from the U.S. and China

The price of gold on Monday showed a positive trend - As a result of the day on the Comex exchange it rose by 0.21% to $1820.80 per troy ounce. The quotation was influenced by the release of economic statistics of the United States and China. In particular, players evaluated the results of the industrial sector in both countries in July, which failed to meet expectations. In the States business index for the sector was 59.5%, while analysts had forecast 60.5%. analysts had forecast 60.9%; in China it dropped to 50.4 points against 50.8 points forecasted by experts. The negative statistics strengthened the investors' apprehensions concerning the state of the global economy. The growth in prices on gold was promoted by decrease in an exchange rate of dollar, which index which last night demonstrated a 0.12% drop to 90.078 p. The cheaper dollar allows to buy larger amounts of the precious metal, which is advantageous to investors. The cheaper dollar allows you to buy more precious metal; it's beneficial for the players who use foreign currency and therefore increases demand.