22935
Gold Sees Worse Run in 11 Years
World Economy

Gold Sees Worse Run in 11 Years

Gold held a weekly decline marking its worst run in 11 years before a US payrolls report that will guide the Federal Reserve in determining when to raise interest rates. Bullion for immediate delivery was at $1,089.30 an ounce by 10:58 a.m. in Singapore from $1,089.55 on Thursday, when prices gained 0.4%, according to Bloomberg generic pricing. The metal is 0.6% lower this week and is headed for a seventh weekly drop in the worst slump since 2004. Gold tumbled to a five-year low on July 24 on speculation that improving US growth will lead policy makers to raise rates as early as September, curbing bullion’s appeal because it doesn’t pay interest.

Short URL : http://goo.gl/fZC5jN

You can also read ...

While China tries to alleviate its demographic crunch, the aging society means a pension shortfall.
Forget that image of sweatshops making all kinds of cheap...
Russia Economic Recovery Underway
Retail sales in Russia picked up in April, while real wages...
In 2017 banks had total mortgage lending of around $352 billion.
High levels of household debt are the greatest risk to Sweden’...
Saudi Gov’t Told Not to Boost Spending
The International Monetary Fund urged the Saudi government not...
Greece at Crucial Point
Discussions are heating up over future debt repayments for...
Brazil CB Keeps Rates on Hold
Brazil’s central bank considered cutting interest rates last...
Peru Economy Strengthens
Economic growth in Peru strengthened in the first quarter...
EU Tells Italy to Cut Debt, Warns of Euro Spillover
Italy’s incoming government should aim to cut its heavy public...

Trending

Googleplus