empty
 
 

2014.04.2308:56:00UTC+00Gold Prices Come Off 10-week Low

Gold prices are edging higher on Wednesday morning, coming off a ten-week low, with the ongoing unrest in Ukraine triggering some buying in the yellow metal.

However, gold's gains are limited due to fairly steady global equities markets and a likely fall in demand for the metal from China.

Gold futures for June are up $6.00 or 0.47 percent at $1,287.10.

On Tuesday, gold futures for June ended down $7.40 or 0.6 percent at $1,281.10 an ounce, extending losses to a third straight session, after falling to $1,277.60 an ounce, the lowest level since February 11.

Silver for May is up $0.119 or 0.61 percent at $19.480 an ounce.

Meanwhile, copper is down $0.012 or 0.39 percent at $3.042 per pound.

Investors will be looking ahead to a report from Markit on U.S. manufacturing activity. The consensus estimate calls for an increase in the index to 56.3 from 55.5 in March. The flash estimate from Markit will be out at 9:45 am ET.

The Commerce Department's report on new home sales for March is due for release at 10 am ET. Economists expect new home sales to come in at a seasonally adjusted annual rate of 455,000 in March compared to 440,000 in February.

The Treasury will release the results of its auction of 5-year notes at 1 pm ET.

  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $8000 more!
    In March we raffle $8000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 100% Bonus
    Your unique opportunity to get a 100% bonus on your deposit
    GET BONUS
  • 55% Bonus
    Apply for a 55% bonus on your every deposit
    GET BONUS
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS


Can't speak right now?
Ask your question in the chat.
Widget callback