The price of gold is boosting during today's trading amid analysts’ fears the U.S. interest rate may increase as early as 2015.
The cost of gold futures in New York for September delivery rose 0.62 percent, reaching $1,208.90 per troy ounce.
During the speech in the U.S. Senate, the head of the Fed, Janet Yellen said that the “mega-regulator” “does not consider it right” to increase rates in the course of the next few meetings, which will take place in September and October of this year. It turns out that the interest rate can increase no earlier than June 16-17 this year.
According to the ANZ Bank’s analyst, Victor Thianpiriya, interest rates boost and Chinese investors’ coming back to the market after the holidays have a positive impact on the price growth for gold. Although China remains to be a support for the gold market, but they need a supply shortage for significant growth, and this is not observed.
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