17726
Gold Falls Below $1,200
World Economy

Gold Falls Below $1,200

Gold fell nearly 1% to a two-week low on Tuesday as the dollar pushed higher following recent comments from Federal Reserve Chair Janet Yellen that reinforced the US central bank’s tightening bias on monetary policy, Reuters reported. Spot gold was down 0.8% at $1,197.46 an ounce by 0644 GMT, after slipping as low as $1,195.40. Yellen said on Friday that the US central bank was poised to raise interest rates this year as the US economy was set to bounce back from an early-year slump. Investors believe higher US interest rates would dent demand for non-interest-paying gold, while boosting the dollar.

 

Short URL : http://goo.gl/lfLjRB

You can also read ...

Business confidence fell to its lowest level since August 2013 and around 7% of companies expected a contraction.
According to data from the International Monetary Fund in...
China Warned of Ballooning SOEs
Former chief of the World Bank Robert Zoellick cautioned China...
Shrinking unemployment in the US, Japan and the eurozone finally forces companies  to lift wages to retain and attract staff.
Workers in the world's richest countries are getting their...
New Zealand Q2 GDP Growth Picking Up
New Zealand’s economic growth is expected to have accelerated...
Saudi Sovereign Fund Secures $11 Billion Loan
Saudi Arabia's sovereign wealth fund said Monday it had...
Lira Eases Against Dollar
Turkey’s lira weakened against the dollar on Monday as...
By 2025 more than half of all current workplace tasks  will be performed by machines.
Robots will handle 52% of current work tasks by 2025, almost...
UK Economy Will Shrink Without Brexit Deal
Britain’s economy will shrink if the country leaves the...

Trending

Googleplus