Gold prices rose today (21 September 2012) and replaces weakening the previous two sessions as investors hanging his hopes on the policies of central banks to stimulate economic growth after data released earlier showed the weakening global economic growth momentum.
The spot price of gold moved up 0.3% to $ 1,772.26 an ounce and slightly declined compared to last week. US gold futures rose 0.3% to $ 1775.30.
Manufacturing data closed at its lowest level in three years, while a growing number of Americans filing new jobless claims, almost touching its highest level in two months last week.
Gold holdings by the SPDR Gold Trust rose 0.2% to 1308.41 tons, the highest since August. Shares Silver Trust said its holdings rose to its highest level in 11 months to 9940.66 tonnes on 20 September.