Gold rose sharply

Gold prices rebounded from two-week low after reporting a slowdown in manufacturing activity in China and on the eve of the Fed meeting , at which the central bank may continue to reduce incentives.

Manufacturing activity in China slowed in January for the first time in six months , the index showed PMI, fell to 49.6 points from 50.5 points in December .

Stocks of the world's largest exchange-traded fund backed by gold (ETF) SPDR Gold Trust on Wednesday declined by 1.2 tons to 795.85 tons. Surcharge 99.99 fine gold on the Shanghai Gold Exchange holds near $ 12 per ounce.

Growth of gold comes amid weakening U.S. dollar. Recent data from the U.S. Labor Department showed that the number of applications for unemployment benefits rose slightly last week , although the overall level indicates a marked improvement in the labor market .

According to the report , the seasonally adjusted number of initial claims for unemployment benefits rose for the week ending January 18 , 1000 , reaching a level with 326 thousand Many experts expect that the number of applications will increase to 331 thousand to 326 thousand , of which initially reported last week. In addition, it was reported that the average number of applications for benefits over the past four weeks decreased by 3750 - to the level of 331,500 .

Cost February gold futures on the COMEX today rose to $ 1267.00 per ounce.