International Gold Prices Rose 1.4% To 1644.5 U.S. Dollars &Nbsp, A Record High.

Due to June U.S.A The unexpected drop in consumer spending has made the market worried about the prospect of US economic recovery and boosting the demand for safe haven. New York Mercantile Exchange gold futures prices rebounded sharply on the 2 day, once again set a record high closing price.

On the same day, the most active December contract rose $22.8 an ounce, closing at a record high of $1644.5, or 1.4%.

Data released by the US Department of Commerce on 2 may show that the US consumer spending in June dropped by 0.2%, lower than the 0.1% growth expected by economists, the first time in recent years. Personal income rose by only 0.1% in June, the smallest increase since November last year.

Analysts say a series of recent releases of the US are less than expected. Economics The data show that the US is facing not only a huge debt burden but also a predicament of slowing economic growth, which makes investors expect that the Fed will have to restart ultra loose monetary policy to stimulate economic recovery and enhance the value of gold.

South Korea's central bank announced the purchase of 25 tons in 6 months and 7 months in two months. gold The country's gold reserves rose to 39.4 tons. Mike Daly, senior gold analyst at Bailey financial group, said that the first time that South Korea bought gold since 1998 has become the main advantage of the gold price rise on that day.

Daly said that despite the recent rise in gold prices to curb demand for physical gold, but with the arrival of the holiday season in India and China, physical gold demand is expected to rise significantly.

Silver futures, which were delivered in September, rose 78.3 cents to $40.092 an ounce, or 2%. Platinum futures for October fell $1.1 an ounce, or 0.1%, to $1793.5.