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Gold prices low at end of 2015 — report

GoldGold prices ended the last session of 2015 at a low rate for the third year in a row, reaching $1,060 per ounce at the US Commodity Exchange (COMEX), according to a specialized economic report released on Monday.

Gold prices are affected by the inflation rate, the drop in oil prices, the rise in US profit rates and the continuous rise in international stock markets, said ICN online economic magazine.

The report noted that policies adopted by central banks around the world led shareholders to invest in assets despite the risks, rather than gold, which is considered a safe haven.

The number of people investing in gold has decreased amidst the drop in inflation rates and the rise in US dollar exchange rate.

The demand on gold will continue throughout 2016 as the US Federal Reserve is expected to raise the profit rate from quarter point to half of full point, it said.

Meanwhile, the report added that having an international economic crisis could allow gold to recover, however, having such crisis is not widely possible due to economy-boosting policies followed by central banks.

Gold prices dropped by 10 percent in 2015, affected by a quarter-point rise in profit by the US Federal Reserve. (KUNA)


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