April 29, 2016, gold and silver rose 2%, to the highest since January last year, due to the Bank of Japan on Thursday decided to suspend additional monetary stimulus measures, the weight of the U.S. dollar, and dragged down the stock market decline.
Yen against the dollar hit a peak of 18 months, and may recorded since the 2008 financial crisis, the biggest weekly increase, due to the slow growth of the U.S. economy in the first quarter, and the Federal Reserve Board (fed / fed) this week's policy position statement on prudent, weighed on the dollar.
1816 GMT, spot gold XAU= rose 2%, at $1291.11 an ounce, after hitting a 15 month high of $1296.76. The United States June gold GCv1 rose 1.9%, to $1290.50 an ounce.
This week, the price of gold rose 4.8%, will be recorded in February 12th when the week the biggest weekly gain.
"Of all the precious metals are rising sharply, aided by weak GDP data in the United States and Japan Central Bank bide one's time dragged the dollar weakness," capital economics analyst Simona gambarini said.
"If the dollar began to rebound, the price of gold may be the callback, but we are still optimistic about the market."
On Wednesday, the Fed kept interest rates unchanged, and after the publication of the policy statement expresses, do not rush to raise interest rates, which also helped support the gold market.
"We think market hedging is still the subject of, only hedge will be diminished, lower real interest rates should be to stabilize, then more strong global data to push up interest rates, and thus boost risk appetite," TD securities in a report wrote.
Spot silver was rose 1.5 percent, reported to 1.78 dollars an ounce, touched an intraday January 2015 since the highest 17.96 U.S. dollars, this month is expected to rise by 15.3%, set in August 2013 since the biggest monthly gain, because the silver in the first quarter rose less than gold, this month Buzhang.
Spot platinum XPT= surged 2.5% to $1071.49 an ounce, or cut in earlier hit a 10 month high of $1080. Spot palladium XPD= climbed 2.3%, hit the highest in nearly six months of $634.96 an ounce.