Gold price rises on speculation that the Fed may not raise its interest rates this year

Market news

13 October 2015

Gold price rises on speculation that the Fed may not raise its interest rates this year

Gold price increased on speculation that the Fed may not raise its interest rates this year.

The weak Chinese trade data also supported gold price. The Chinese Customs Office released its trade data on Tuesday. China's trade surplus declined to $59.43 billion in September from $60.24 billion in August, beating expectations for a decline to a surplus of $46.79 billion.

Exports fell at an annual rate of 3.7% in September, while Imports slid at an annual rate of 20.4%, the eleventh consecutive decline.

December futures for gold on the COMEX today rose to 1167.20 dollars per ounce.

Oil prices rise but gains are limited by the IEA report

Bank of England’s Monetary Policy Committee Member Ian McCafferty: the central bank should hike its interest rates to have room for interest rate cut in the event of a financial crisis

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