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Tuesday, February 25, 2014

Prices of gold rose

 Prices of gold rose

Gold futures on the COMEX division of the New York Mercantile Exchange rose to the highest level in four months on Tuesday ( Wednesday morning GMT) , due to weaker economic data .

The most active gold contract for April delivery rose 4.7 dollars, or 0.35 percent, to close at 1342.7 U.S. dollars per ounce , Xinhua reported .

The Conference Board , a business research association based in New York , on Tuesday reported that U.S. consumer confidence index fell to 78.1 in February from 79.4 in January .

Meanwhile, the composite index of the S & P / Case - Shiller released Tuesday showed that U.S. home prices fell 0.1 percent in December , a decrease in the second month in a row , with 11 of the 20 cities tracked recorded decreases .

Uncertainty in Ukraine , Venezuela and Egypt as well as the expectations of weak economic data in the coming weeks also help attract investors to gold .

The price of gold has increased di13 session of the last 15 sessions .

Although market analysts still expect the average gold price this year is lower than last year , some have raised the average forecast gold price for the year to 1,333 U.S. dollars per ounce from the previous estimate of 1,289 dollars .

Silver for March delivery fell 8.8 cents, or 0.4 percent, to close at 21.963 dollars per ounce . Platinum for April delivery rose 1.2 dollars, or 0.08 percent, to close at 1442.6 U.S. dollars per ounce .

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