Declining stock markets is benefitting gold, which rose to $1,095 per troy ounce today in the morning. Gold, in terms of euro recovered the €1,000 per troy ounce mark. Meanwhile, gold is pulling up silver, whereas palladium and platinum are protecting the gains they achieved.

The US Fed Boston president Rosengren and Chicago president Evans have spoken about worries regarding the economic growth globally. They have warned that the lower oil prices, disturbance in China's equity markets and other factors might considerably depress economic growth. Both of them are doubtful regarding any further rise in interest rate. Moreover, US Secretary of the Treasury Summers also expressed scepticism regarding the US Fed rate rises, saying that the global economy is not very strong to weather four rate hikes that are expected in 2016 by market participant.

If these opinions continue to take place in the US Fed's decision-making body and if the central bank does decide against raising rates three times in 2016, as expected by Commerzbank, gold price will be positively affected.