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The gold price futures contracts rose nearly one percent during the US session to see their highest since February 16, February amid the US dollar index rolled back to the fourth straight session from the top of him since the beginning of March last March, according to their inverse relationship after Economic developments and data that were followed Wednesday by the Chinese economy, the world's largest consumer of minerals and its economy the largest economy in the world and on the threshold of revealing the record of the meeting of the Federal Open Market Commission held on 20-21 March March.
At 01:59 pm GMT, futures for gold prices rose 15 June June to 0.81% for current trading at $1,356.80 the highest explanation since the fourth of April April compared with the opening at $1,345.90 of the ounce, amid the decline of the dollar index By 0.10% to 89.50 levels, explaining its lowest since 28 March March compared to the opening at 89.59.
We have followed up on the Chinese economy, the world's second largest economy, revealing inflation data for the month of March March, which showed a slowdown in the growth of inflationary pressures according to the annual reading of the consumer price index to 2.1% compared to 2.9% in the previous February February last year, to prepare So the current reading is less than the analysts estimate that the growth rate slowed to 2.6%.
This coincided with the annual reading of the annual producer Price Index (CPI), which is an initial indicator of inflationary pressures, which has shown the slow pace of China's second largest industrialized country, after the United States, grew to 3.1% compared to 3.7% in the previous annual reading February February, for Thus, the current reading is also less than the analysts ' estimate that the growth rate has slowed to 3.2%.
At the other level, we have also followed the US economy to disclose inflation data according to the consumer price index reading which showed a contraction of pressure inflationary rate of 0.1% versus 0.2% growth in February February, other than predictions that indicated persistence at zero levels, while reading The core of the index itself is to stabilize the growth rate to 0.2% without a significant change from what it was in February February, so consistent with expectations.
As for the annual reading of the consumer price index, the acceleration of growth to 2.4% is in line with expectations versus 2.2% in annual reading. Prior to February February, while the substantive annual reading of the same indicator showed stable growth at 2.1%, also compatible with Expectations, and this comes amid investors ' aspiration for what will result in the Federal Commission meeting minutes at 6:00 p.m. GMT.
The gold holdings were stabilized by the S-P-D Gold Trust Fund, which is the world's largest gold-backed indicator fund on Monday Tuesday without a little change for the second straight day when a total of 859.99 metric tons, which is the highest since the 27th of September last September, mentions that the holdings of the Fund The Duke of Gold rose in 2017 by about 3%, 23.63 metric tons, while gold prices rose 13% in 2017.
