Beginning of today's trading session marked a decrease in value of gold futures, that recede from record highs of last four months. This contributes to uncertain situation regarding the timing of rate increases from the Fed.
This morning in Europe in the department of Comex New-York Mercantile Exchange gold futures with the rate in December fell by $11.30, and in a percentage by 0.96, which amounted to $1 171.80 per troy ounce. Compared with Friday's quotes when the metal was more expensive by $4.40 or 0.37%. Publication of recent economic data allowed to investors to see a mixed picture of the US economy as a whole. Currently, market participants are trying to understand whether the Fed will raise interest rates for the first time in a decade in this year or not. Last Thursday, gold has updated the record high of $1 191.70 since 22 June, then the words of Fed officials were regarded as a rejection of rate increases until next year. However, enough positive reports about inflation and consumer indices give investors the opportunity to hope that the Fed may increase rates before the end of this year. The Fed's interest rate is the main theme in the markets over the past few months. By the end of the year there will be held another two meetings of the Central Bank of the United States about issues of monetary policy - the end of October and mid-December.
Copper for December rate fell today in the price by 1.1 cents, to 0.45%, up to $ 2,393 per pound. Meanwhile, it was published an official change in volume of real GDP in China. In the third quarter, China's economy increased to 6.9%, but this indicator is below the previous three months - 7.0%. Changes in volume of industrial production showed that in September the indicator released at the level of 5.7%, it is lower than the expected of 6.0% and 6.1% for last month. China takes the place of one of the largest copper consumers in the world, last year its share was almost 40% of world consumption.