gold extends gains
Last Updated : GMT 06:49:16
Arab Today, arab today
Arab Today, arab today
Last Updated : GMT 06:49:16
Arab Today, arab today

Gold extends gains

Arab Today, arab today

Arab Today, arab today Gold extends gains

Fused gold
Bengaluru - Arab Today

Gold on Monday extended its biggest weekly gain in five weeks as the US dollar fell against the euro, while US political turmoil fueled demand for bullion as a safe haven and reduced expectations of rapid US interest rate rises.
Spot gold was up 0.3 percent to $1,258.72 an ounce at 1442 GMT, while US gold futures were 0.4 percent higher at $1,258.80.
US stocks gained on Monday but yields edged lower and the dollar plunged to a six-month low when the euro rallied after German Chancellor Angela Merkel said it was “too weak” for Germany.
Gold investors were looking to news from Washington, said Commerzbank analyst Carsten Fritsch. “If this escalates further and impeachment claims intensify, Trump will find it very difficult to push forward his ambitious tax cut and infrastructure spending plans,” Fritsch told the Reuters Global Gold Forum on Monday. INTL FCStone analyst Edward Meir said: “This should be bullish for gold since it should keep the (US) Federal Reserve more dovish on the rate front for a little while longer.”
Higher interest rates would pressure gold prices because they raise bond yields and tend to boost the dollar. St. Louis Federal Reserve President James Bullard said on Friday that expected rate increases may be too fast for an economy that has shown recent signs of weakness. However, Julius Baer analyst Carsten Menke believes that a June rate rise remains highly likely. “(As a result) we expect the dollar to strengthen again and that should cap the upside to gold from here,” he said, adding that the metal is likely to dip to $1,200 over the next three months.
Investors’ net long position in COMEX gold, meanwhile, has fallen to a two-month low, US Commodity Futures Trading Commission (CFTC) data showed on Friday.

Source: Arab News

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

gold extends gains gold extends gains

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

gold extends gains gold extends gains

 



GMT 10:10 2017 Thursday ,09 February

3 Important Elements You Have to Consider

GMT 04:03 2017 Monday ,24 April

Bella Hadid ‘dying’ to visit Palestine

GMT 19:25 2016 Wednesday ,25 May

The Brooklyn Desk by Oeuf NYC

GMT 07:49 2018 Friday ,05 January

2 Russian servicemen killed

GMT 07:58 2018 Monday ,01 January

Italy orders N. Korea's envoy to leave

GMT 08:45 2017 Wednesday ,20 December

US military imagines war without GPS

GMT 17:26 2017 Sunday ,17 December

Putin thanks Trump for help in foiling attack plot

GMT 22:19 2017 Monday ,16 October

Cairo-hosted Fatwa conf. new contribution

GMT 02:27 2016 Friday ,10 June

Video hints Japan abetting illegal ivory trade

GMT 07:04 2017 Wednesday ,19 April

1,883 Bahrainis found jobs in March

GMT 14:24 2016 Tuesday ,22 November

Citi and JPMorgan top list of ‘globally banks’

GMT 21:43 2017 Friday ,01 September

People question Nazaruddin`s repatriation expenses

GMT 09:41 2017 Wednesday ,19 April

OIC concerned over violence in Mali

GMT 01:30 2017 Friday ,27 October

May22/Jun21

GMT 05:38 2016 Friday ,30 December

Dubai Airports divert 13 flights due to heavy fog

GMT 11:38 2017 Saturday ,14 January

Mexico names new ambassador to US

GMT 12:03 2017 Wednesday ,22 March

Kuwait to mark World Water Day

GMT 15:00 2017 Wednesday ,27 September

HM King receives invitation from Egyptian President

GMT 02:45 2017 Tuesday ,05 December

President Bashir arrives in Chad

GMT 02:45 2017 Wednesday ,16 August

Turkmen President Visits Pakistan
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday