Gold Gains
World Economy

Gold Gains

Gold rose for a sixth day, the longest advance in 10 months, as fading expectations for higher US rates hurt the dollar. Bullion for immediate delivery climbed 0.3% to $1,159.55 an ounce in London. The metal gained 3.7% this week, the most in a month, Bloomberg reported. “The most important factor playing on gold prices this week was weak data out of the US, which weighed on the dollar,” Thorsten Proettel, a commodities analyst at Landesbank Baden-Wuerttemberg said. The dollar’s retreat has been sparked by tepid US data, raising concern over the strength of the economy and damping expectations of further rate increases this year. Holdings in gold-backed exchange-traded products rose 0.3% to 1,547.8 metric tons as of Thursday, according to data compiled by Bloomberg. That is the 14th consecutive rise and the longest run since December 2012. Traders now see a less than 50% chance of a rate increase this year, down from 93% at the start of the year.


Short URL : http://goo.gl/56yBRk
  1. http://goo.gl/STCJrT
  • http://goo.gl/ypo78t
  • http://goo.gl/dWIRz2
  • http://goo.gl/p351Fq
  • http://goo.gl/Jx41CU

You can also read ...

Capital Economics forecasts Turkey’s GDP growth will fall to 3.5% in 2018 from 7.4% in 2017.
Expectations for Turkey's end-2018 inflation rate rose from 12...
Trump Tactics Sabotaging US Economy, Markets
Wall Street could be making a costly mistake. According to...
Apple Watch Smells Losses
The latest round of US tariffs on $200 billion of Chinese...
Italian Bonds, Stocks Fall
Italian bond yields rose and equities sold off on Friday after...
File photo of finance ministers and central bankers from the G20 nations.
Global economic growth is poised to pick up this year, though...
Technology Can Help Workers From the Informality Trap
Technology and what it will do to change how people work is...
Moody’s Warns Philippines of Downside Risk
Debt watcher Moody’s Investors Service on Friday said the...
Pakistan sees 5.8% growth during FY18.
The size of Pakistan’s economy stood at $313.13 billion at the...