Gold failed to take advantage of global exchanges Sell Off

Slump in global stock markets failed to use gold, precious metals ended lower on Monday. Although the status of a safe haven, but the uncertainty of interest rate hikes in the US in September still scuttle the golden steps to strengthen further.

Decline in China's stock exchanges sparked a sell off global stock markets, European stock markets fell more than 5%, while the US stock market traded with high volatility, the Dow Jones noted the biggest daily decline in the past four years, and the S & P 500 entered the correction.

Despite expectations of a rate hike faded after the turmoil in China, but it is likely to rise still not closed. Increasing number of dollar index fell to its lowest level since late January, on Monday fell by 1.6% due to the increasing number of investors who doubt the interest rate hike in September.

Gold today has rebounded more than 7% compared to the lowest level in 5-1 / 2 years $ 1,077 reached in late July, the increase is triggered by China's move to devalue the yuan, the turmoil in the money market and capital market.

Gold in Monday trading closed at $ 1,154.20 per troy ounce, with daily highs $ 1169.95, $ 1145.59 and the lowest.