Gold price show a moderate increase

Gold prices rose moderately against the background of uncertainty regarding US monetary policy outlook, although the recovery of the dollar prompted some buyers to fix the recent gains in early trading.

Investors expect that the Fed will raise rates again in December, supported by positive economic data, but other countries are increasingly seeking to enhance the stimulation of the economy. The Reserve Bank of New Zealand cut rates today.

World stock indices hovered near one-year highs on Thursday as oil prices fell for the third consecutive day, as investors are not particularly responded to the decline in interest rates in New Zealand.

A day earlier, gold has risen in price by $ 5.20, or 0.39%.

According to Fed Watch CME, traders estimate the probability of a FED hike in December to 40%. Earlier this week, the probability was about 50%. The chances of a hike in September is now about 9% compared with 20% a few days ago.

The precious metal rose earlier this month above $ 1370, as the disappointing US economic data led market participants to revise the expectations of the next US rate increase.

For the year gold has risen in price by almost 26% to date, helped by concerns about global economic growth and expectations of monetary stimulus.

Investment demand for gold reached a record high for the first half of the level in January-June this year, revealed on Thursday a report of the World Gold Council, linking interest in the metal with a sharp rise in popularity in exchange-traded funds (ETF.

The cost of the October gold futures on COMEX rose to $ 1,353.60 an ounce.