18458
Gold at 11-Week Low
World Economy

Gold at 11-Week Low

Gold prices tumbled for a third consecutive week, with the precious metal off by another 1.8% to trade at $1169 ahead of the New York close on Friday. Investing.com reported. The sell-off in gold has been exacerbated by a rebound in the greenback, with the Dow Jones U.S. Dollar Index recouping sharp losses from earlier in the session to close just pips higher on the week. With the labor market recovery continuing to gather pace, expectations for higher interest rates have kept bullion under pressure with prices closing the week just above key near-term support.

 

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

You can also read ...

The Norges Bank, Fed, BoE, ECB and SNB collectively set borrowing costs for more than a third of the world economy.
Wall Street economists are telling investors to brace for the...
Fears of Bubble in World’s Biggest Stocks
The world’s biggest companies could be hiding the biggest...
Petrol prices are set to increase by about 80%.
Saudi Arabia plans to raise domestic petrol and jet fuel...
Southeast Asia Internet Economy to Reach $50b
Digital businesses can’t afford to ignore Southeast Asia,...
India’s economy has the potential to grow at 8% over the next 20 years.
A new UN report flags subdued private investment in India as a...
That decision to leave the EU prompted a sharp 15% fall in the pound, which raised the cost of imported goods, notably food and oil.
Consumer price inflation hit a near six-year high of 3.1% in...
BoJ to Keep Monetary Policy Stable as Yen Weakens
Regardless of a return to solid economic growth, the risk of...
Malaysia Factory Output Slows
Malaysia’s industrial production growth rate decelerated in...

Trending

Googleplus