Gold prices rose significantly

Gold prices jumped nearly 1.5 percent, reaching a peak on March 30 as the dollar remains under pressure amid uncertain prospects improve Fed. Support prices are also a fall in global stock markets, increasing investor appetite for safer assets.

Minutes of the Fed's March meeting showed that policymakers were discussing the issue of increasing interest rates in April, but there was consensus that the risks associated with the global economic downturn, justify a more cautious approach. The politician said that the forecast two rate increases in 2016, but the timing is still not definite. Meanwhile, today the head of the Federal Reserve Bank of Dallas, Robert Kaplan said that the Fed should be patient and careful when raising interest rates, but nevertheless steadily increase them. Recall, higher interest rates have a downward pressure on the price of gold, which brings its holders to interest income and that is difficult to compete with the assets, bringing that income against the background of increasing interest rates.

"Yesterday's Fed meeting minutes and the weakness of the dollar created an environment that gives an additional impetus to gold and attracted some pent-up demand", - said a senior manager Ole Hansen, Saxo Bank. - The nearest resistance is located at $ 1,244, but a break above $ 1255 could offer to achieve a new high in the market. "

In the future, the risks associated with the global economy, and the Fed's stance could lead to further price increases. "We maintain our positive outlook for gold is not the most favorable assessment of the world economy from the IMF and increased uncertainty may spur the gold rally." - Said the analyst FXTM Luqman Otunuga.

Little influence is also exerted on the US data. The Labor Department reported that the number of Americans who first applied for unemployment benefits fell more than expected last week, suggesting that the labor market continued to strengthen, despite the restrained economic growth. Primary treatment decreased by 9,000 and a seasonally adjusted amounted to 267,000 for the week ending April 2nd. The data for the previous week were not revised. Economists forecast that initial applications fall to 270,000 last week. The number of applications for unemployment benefits now remain below 300,000, the threshold level of health-related conditions in the labor market for 57 weeks, the longest period since 1973. Strengthening labor market attracts discouraged and new job seekers, which is likely to continue to moderate growth of wages and allow the Fed to maintain its policy of gradually raising interest rates.

In addition, it became known that the gold reserves in the largest investment fund SPDR Gold Trust rose yesterday by 0.51% to 819.60 tons, registering the first inflow of nearly two weeks.

April futures price of gold on COMEX today rose to $ 1240.5 per ounce.