27067
Gold Falls 
World Economy

Gold Falls 

Gold prices were lower on the London spot market Friday, ahead of US nonfarm payrolls data that is expected to offer fresh support for the view that interest rates will rise before the end of this year, Dow Jones reported. Spot gold was down 0.6% at $1,106.41 a troy ounce in morning European trade, a two-and-a-half-week low. Economists expect strong growth of 200,000 jobs in September, versus a net gain of 173,000 in August, and the jobless rate to stay steady at 5.1%. This would signal further robustness in the US economy and likely shore up a decision by the Federal Reserve to raise interest rates, analysts say. A rate increase would most likely boost the dollar and pressure the dollar-denominated precious metal lower by making it more expensive for those holding other currencies to buy. Thin trading volumes from Asia wasn’t helping gold’s cause. Chinese traders and investors were away from their desks for a week long holiday. China and India together account for more than 50% of global gold demand.

Short URL : https://goo.gl/mwOyBY
  1. https://goo.gl/5EE9y5
  • https://goo.gl/b4AxwS
  • https://goo.gl/Lv6XFt
  • https://goo.gl/ynZiz2
  • https://goo.gl/UfMo8a

You can also read ...

Google and Walmart are set to start a partnership through which thousands of Walmart products are offered through the Google Home voice-controlled speaker.
Lowe’s Inc the number-two US home improvement retailer,...
Lowe’s Q2 Profit Jumps 21.6%
Lowe’s Inc the number-two US home improvement retailer,...
There were rallies on Wall Street overnight due to US President Donald Trump’s comments.
Asian indexes put in mixed performances on Wednesday following...
Blackstone Explores $7b IPO of Gates Global
Private equity firm Blackstone Group LP is exploring an...
Italian 10-year yields climbed 6 basis points to  a 3-1/2-week high at 2.17%
Eurozone bond yields rose on Wednesday, with Italian yields...
Toshiba, Western Digital Start Talks on Memory Sale
Toshiba has begun negotiations with business partner Western...
China Court Awards US Co. $1.5m in Court Case
A Chinese court has ordered three domestic shoemakers to pay...
Identity Fraud Soars to New Highs in UK
Cifas, the UK’s leading fraud prevention service, has released...

Trending

Googleplus