Investing.com - Financial Markets Worldwide
Get 40% Off
Get 40% Off
🚨 Volatile Markets? Find Hidden Gems for Serious OutperformanceFind Stocks Now

Gold prices gain in Asia with China demand eyed

Published 02/25/2015, 10:57 PM
Updated 02/25/2015, 10:58 PM
Gold price up in Asia

Investing.com - Gold prices gained on Thursday in Asia as investors eyed physical demand from China.

On the Comex division of the New York Mercantile Exchange, gold futures for April delivery rose 0.62% to $1,209.00 a troy ounce.
hours.

Meanwhile, silver futures for May delivery increased 0.84% t $16.612 a troy ounce. Elsewhere on Comex, copper for May delivery rose 0.33% to $2.654 a pound.

Overnight, gold futures reversed most of the gains made in Asia on Wednesday afternoon before settling slightly higher.

In Asia, the price of gold futures soared as investors in China returned to markets after a week-long break for the Lunar New Year. China is the second-largest buyer of the precious metal in the world. Investors in Asia also scurried to gold after the dollar weakened slightly on Wednesday.

Still, the dollar remained relatively unchanged after Federal Reserve Chair Janet Yellen finished her second day before Congress during the first of two semi-annual Humphrey-Hawkins Testimonies she will make in 2015.

Unlike Yellen's appearance in front of the Senate Banking Committee on Tuesday, members of the House Financial Services Committee spent little time on Wednesday discussing monetary policy. When addressing a potential interest-rate hike, Yellen reiterated that the Fed could wait several additional meetings before raising rates.

A delay in raising interest-rates is often regarded as a positive sign for gold, as it lowers the price of holding onto the precious metal.

Latest comments

Install Our App
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.